Gold and silver prices change on almost a daily basis, but they are always going to be precious metals. As long as there is a demand for gold and silver, there will be people that want to buy them for jewelry and other uses.
Selling Gold Jewelry
If you have some old jewelry that you want to sell and are looking for a buyer, you have a few options. The most common place to sell gold jewelry is a jeweler's store. Jewelers that make custom pieces are always in the market for gold that they can melt down and reuse in new designs. For the seller, this means getting a decent price for the old items you have and do not wear anymore. Most jewelers pay by weight so you have to take the old jewelry in so they can see what grade it is, then weigh it and give you a price.
Gold and Silver Exchange
Many areas have gold and silver exchanges that jewelers and precious metal dealers use to buy and sell these and other precious metals. The exchange is always looking for gold and silver because they have customers that will buy them regularly. Because the exchange is reselling the gold and silver, they may pay a little less for it so they can make a profit on it when they find the right buyer. The sentimental value behind the jewelry is not important to them. They will give you a price, and if you agree, pay you cash for the gold or silver you are selling.
Pawn shops are another place to sell your gold jewelry, and like the jeweler, they are going to check the grade, check the weight, then give you an offer. The pawnbroker is not going to pay as much for it, but they will give you cash for it right away. The pawnbroker may sell the jewelry or they may melt it down, but they will be interested if it is high-quality and not just gold-plated costume jewelry.
You might be surprised by some of the people that are buying gold and jewelry and what they are doing with it. There are some collectors that buy the material to melt it down and save it until the price goes up. The idea is similar to if you bought gold coins and put them in a safe but these buyers take the jewelry, remove the stones and parts that are not pure, then melt the gold down and make ingots out of it. When the price goes up, and eventually it will, they will sell the gold to places like the gold exchange for a healthy profit