Gold Is Far Above Where It Was Two Years Ago: Is Now a Good Time to Sell Your Gold in the Lower Mainland?

Gold is one of the most talked-about assets right now. Early in 2026 it hit all-time highs. Since then it has pulled back, but it is still far above where it traded just a few years ago. If you have a drawer of old chains, broken earrings, or inherited rings, you may be wondering whether this is the moment to turn them into cash.

Here is what's behind the headlines, and how to approach selling in a way that protects your payout.

What Has Gold Been Doing in 2026?

Gold had a remarkable run into the start of the year. Spot gold peaked at about $5,595 per ounce on January 29, 2026. Since then it has cooled. Gold futures closed around $4,216 on October 2, 2026. ebcinvesting

That is a drop from the peak, but it is still a very high price by historical standards. For comparison, the previous major highs were around $1,921 in 2011 and $1,981 in 2020. Even after the pullback, gold is trading at more than double those earlier highs. ebc

What Is Moving the Gold Market Right Now?

Several themes keep coming up in market coverage:

  • Interest rates and the Fed. Analysts are watching the October Federal Reserve meeting closely. Gold is sitting under pressure from high yields, and whether those yields ease is seen as key to whether it can push higher. canadianminingreport
  • Central bank buying. Analysts point to steady buying by central banks as a source of demand, with the PBOC's August purchase of 20 tonnes being the strongest month since October 2023. canadianminingreport
  • Uncertainty. Gold has traditionally attracted buyers when markets are nervous, which is one reason it climbed so fast earlier this year.

Nobody can say for certain where gold goes next. Forecasts for the rest of 2026 range widely, and some analysts see a possible breakout while others expect a sideways market. Treat any firm prediction with caution.

Should You Sell Now or Wait?

This is a personal decision, and we are not financial advisors. But a few practical points can help you decide:

1. You are selling at a high price, not a low one. Even after the pullback, current gold prices are historically strong. If you have jewellery you no longer wear, today's market is a good time to find out what it is worth.

2. Timing the top is nearly impossible. Prices have swung by hundreds of dollars within a few months. Many people who wait for "the perfect price" end up never selling.

3. Prices change daily, so check before you go. At Five Star Gold Exchange, our buying prices are based on live spot rates and posted every day on our "What We Pay" page. You can see what your gold is worth before you book anything.

4. Selling is not all-or-nothing. You do not have to sell everything at once. Some people sell their broken or unwanted pieces now and keep sentimental items.

How to Get the Best Return When You Sell

Rising prices attract all kinds of buyers, and not all of them are fair. A few tips:

  • Know your karat and weight. Check the stamps on your pieces (10K, 14K, 18K, 22K, 24K). Your payout is based on gold content and weight.
  • Get an evaluation done in front of you. Your items should be weighed and tested while you watch, with the math explained.
  • Ask how the offer is calculated. A trustworthy buyer shows you the spot price used and what percentage they pay.
  • Do not worry about condition. Broken chains, bent rings, and damaged jewellery are worth their gold content.
  • Look for accreditation. Choose a buyer with a track record, such as a BBB-accredited business.
  • Never feel pressured. You should be free to say no and walk away.

What Can You Sell?

It is not only gold rings and chains. Many people are surprised to learn that these items have real value:

  • Gold jewellery in all karats, including 22K and 24K pieces
  • Broken or scrap gold
  • Gold watches
  • Dental gold
  • Canadian silver coins minted before 1968 and US silver coins minted before 1965
  • Sterling silver flatware and tea services
  • Estate and inherited jewellery

Sell Your Gold at Five Star Gold Exchange

Five Star Gold Exchange is a BBB-accredited gold buying office, run by a father-and-son team with over 20 years of combined experience. Every evaluation is done in front of you using XRF scanning and acid testing, with no hidden deductions. We pay the same day by cash or e-transfer, and there is never any obligation to sell.

Whether you are looking for a gold buyer in Coquitlam or want to sell your gold in Vancouver, our team serves clients from across the Lower Mainland. Many sellers tell us the drive was well worth it.

Appointments are required. Call 604-779-2755 or email info@fsge.ca to book. Our office is at #230 – 1140 Austin Ave, Coquitlam. Please bring a valid government-issued photo ID, and note that sellers must be 18 or older.

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