Old trinkets, big returns: Aussies cash in as prices for this commodity reach new heights

That dusty jewellery box in your bedroom might be hiding a small fortune.

With gold prices soaring to unprecedented levels this year, Australians are rediscovering that their forgotten trinkets are worth far more than they ever imagined.

Gold is currently trading at $221.90 per gram for 24-karat pieces. Meanwhile, recent market data shows prices around $196.31 per gram.

To put this in perspective, a gold wedding band weighing five grams could now be worth over $1,000.

The gold rush is real—and it's happening in your neighbourhood

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Loralie Bodle discovered this firsthand when she brought a box of unwanted valuables to her local jeweller.

The 143 grams of gold she'd been keeping in a drawer had an on-the-spot value of $10,000.

'I really didn't think that it was going to be that much,' she said, echoing the surprise of countless Australians who've made similar discoveries this year.

The Australia and New Zealand Banking Group emerged as one of the most bullish institutions.

The institution projected that gold will surge to $4,400 per ounce by the end of 2025. Trading at $4,232.36 per ounce as of 16 October 2025, gold needs only a four per cent gain to reach this ambitious target.

The surge has created an unprecedented opportunity for older Australians, many of whom accumulated jewellery during times when gold was significantly cheaper.

Items purchased in the 1980s and 1990s could now be worth 10 times their original value.

Why gold prices are soaring—and what it means for you

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Gold is holding near record highs, supported by safe-haven demand and growing expectations of United States interest-rate cuts.

Ongoing political tensions continue to drive investors toward precious metals.

For Australian sellers, there's an additional advantage. The Reserve Bank of Australia's accommodative monetary stance is expected to maintain downward pressure on the Australian dollar through the remainder of 2025.

This currency weakness typically amplifies gold returns for domestic investors.

What can you sell—and how much might it be worth?

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Gold buyers accept items in virtually any condition. 'It can be broken, knotted, tangled. It can be in any condition,' Imperial Jewellery valuer Judi Henning explained.

Popular items include wedding and engagement rings, bracelets and chains, vintage brooches, watches with gold components and even dental gold!

Please note that these are current market rates, and actual offers may vary depending on the buyer and the item's condition.

How to sell safely—a guide for seniors

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While the gold boom presents genuine opportunities, it's crucial to protect yourself from unscrupulous operators who target older Australians.

Professional gold buyers use sophisticated testing equipment. 'Everything goes under the microscope to make sure it is what it looks like,' Henning noted.

Look for businesses that use X-ray machines or acid testing to determine the gold content accurately.

Specialist gold buyers have outlets nationwide, mainly offering no-appointment services with cash or bank transfers completed within minutes.

However, this convenience shouldn't rush your decision-making.

'Making sure you're dealing with a reputable, trustworthy company that has hopefully been in business for many years,' advises ABC Bullion general manager Jordan Eliseo.

Always compare offers from at least two or three different buyers before making a decision.

Before selling any jewellery, check with family members first. Some pieces may hold sentimental value that exceeds monetary worth. Consider whether items might be meaningful to children or grandchildren.

Tax considerations you need to know

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When selling gold jewellery in Australia, you generally won't pay capital gains tax if the items were for personal use and each piece is worth less than $500.

However, if you're selling valuable pieces or multiple items, it's advisable to consult with an accountant to understand your tax obligations.

Keep detailed records of what you sell, including purchase dates, sale prices received, receipts from gold buyers and photos of items before the sale.

What experts predict for the remainder of 2025

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Price projections suggest prices between $3,800 to $4,300 by late 2025, with potential for higher prices if economic conditions deteriorate.

With global yields softening and inflationary pressures lingering, gold's appeal as a store of value remains strong.

This suggests that the current window for selling may remain favourable for months to come, giving you time to make informed decisions rather than rushing into sales.

The extraordinary rise in gold values presents a genuine opportunity for Australian seniors to unlock hidden wealth from items they may have forgotten about. However, success requires careful planning, multiple quotes, and choosing reputable buyers.

Whether you're looking to fund a holiday, help with grandchildren's education costs, or declutter valuable items you no longer wear, the current gold market offers unprecedented opportunities for those who approach it wisely.

Have you checked your jewellery box lately? What surprised you most about current gold prices? Share your experiences with fellow readers in the comments below—your story might help others discover their own hidden treasures.