Trade Me says buyers are hunting for a gold and silver bargain – but there's a warning that jewellery may not be the best way to get an investment slice of the precious metals action.
Trade Me spokesperson Millie Silvester said from about mid-January, the site had started to receive significantly more searches for gold and silver.
Gold and silver hit record prices in late January, before prices slipped, then rallied.
"After we saw the historic highs reported in New York last week that's when things really started to pick up on site," Silvester said.
"'Gold' and 'silver' were the second and third fastest rising search terms in the past week with 'silver bar' and 'silver bullion' also appearing in the top 10."
She said searches for silver were up 264% year-on-year in January while gold was up 18%.
"Our Antiques & Collectables and Jewellery & Watches categories also saw a spike in activity in the past week. Whether it's an old chain that's seen better days or a collection of silver coins, the current 'metals meltdown' is actually creating a bit of a gold rush on Trade Me. It's a savvy, very Kiwi way of making the most of a global situation."
She said people who wanted to sell precious metals should mention the carat and weight in grams to help buyers value them. Using keywords such as authentic and hallmarked would build trust. The listing should provide close-ups of hallmarks or stamps to prove metal purity.
But Rich Elliott, from MyGold, said jewellery was not a good way to invest in previous metals.
"As an investment, jewellery is generally inefficient. You're typically paying a large premium over the gold content for design, brand and labour, and that premium is rarely recovered on resale," he said.
"There are also practical issues – most people don't have an easy way to verify purity, resale often means dealing privately with strangers or shipping items away, and because jewellery isn't investment-grade purity it's usually subject to GST.
"By contrast, investment bullion is standardised, easily verified, widely traded, and sold by reputable mints with certifications and guarantees. That makes pricing transparent, resale straightforward, and the market far more liquid."
He said he had just returned from Europe where he had been meeting mints officials and precious metal suppliers.
"What stood out wasn't just the price movement, but the strain on physical supply.
"Many mints have paused taking new silver orders altogether, others are operating on strict allocations, and in several cases delivery timelines have stretched out by months.
"Over the past 12 months, silver prices are up roughly 140%, with gold up about 62%. We've also seen sharp corrections along the way, which underlines just how volatile – and globally significant – this market has become."
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