The Gold obsession will never grow old among its buyers, especially women. Based on World Gold Council data reports, gold consumption across India reached 797.3 tonnes in 2021, the highest in the past five years.
For many, purchasing Gold has been a popular choice of investment. However, people buy Gold in the form of jewellery and coins and sell Gold for cash online in Kolkata for significant Benefits only. Are you contemplating selling Gold for money to meet your needs? Read this article as we have given five factors to maximise profits when you sell your Gold. At the article’s end, we also shared financial investment advice!
How Can You Maximize Cash by Selling Gold?
If you are determined to sell your Gold to meet your needs, you should sell it to any reputed gold buyer. Key characteristics and principles followed by a trusted gold buyer ensure you get the best market price for your Gold. Also, doing some research at your side before you choose the gold buyer saves you from disappointment. Here we have given some essential factors to maximise Benefits on selling Gold:
- A Reputed Gold Buyer Demands Bill/invoice:
A genuine buyer reassures the purity of the Gold and doesn’t leave a way for any disagreement on the purity of the Gold. Their procedures and principles also guarantee the buyer the authenticity of the Gold used in jewellery.
Always choose a reputed gold buyer to avoid any dispute or disappointment. They ask for the original bill when you approach to sell your Gold. The invoice or bill will have all the details of the gold ornament, and the buyer can’t deny any information stated in the bill. Therefore, you can have the fullest satisfaction when you approach to sell your Gold.
- Know The Value of Your Gold:
The value of Gold is never static, factors like economic instability, political instability, and inflation cause changes in the value of Gold. When monetary inflation surges, the value of Gold is also increased. You can visit a few gold buyers and get an estimated value of the Gold you have.
There is no standardised method for determining the exact selling price of Gold. Therefore, getting quotes from various reputed gold buyers and sellers is the best approach. Compare the costs and build your strategy to grab the best deal in the market.
- Check The Purity of The Gold:
Gold jewellery should have a hallmark sign to get better Benefits while recycling. If you have 916 hallmarked gold jewellery, you have a gold purity of 91.6%. Checking the hallmark sign before selling the Gold helps you be confident. Otherwise, the gold buyer can manipulate you.
Are you worried that your gold jewellery doesn’t have a hallmark sign? You can take it to any reputed store with a carat meter that determines the purity of Gold. A Carat meter is an industrial tool that uses x-rays to determine the purity of Gold. It is quicker and doesn’t damage the metal on testing the purity of Gold. Only reputed gold buyers, who don’t wish to extend customers’ waiting time, have the tool to offer cash for Gold in Kolkata readily.
- Don’t Settle When a Lower Price Is Offered:
After analysing the purity and value of your Gold from multiple buyers, don’t settle for a lesser amount. Going to a reputed jeweller helps you to acquire better deals and satisfaction as they carry out simple, transparent, and practical steps when you approach selling your gold jewels.
- Is Your Gold Antique Jewellery?
We know that “old is gold” is an old saying, but do you know that older gold jewellery possesses more value than modern ones? Yes! The rarity of the antique jewellery pieces, authenticity, and other factors of antique jewellery gives more value to them than contemporary jewellery. Most modern gold jewellery pieces are made of machines and produced in mass quantities. Antique jewellery is created by skilled jewellers who have spent thousands of hours in the making. You can never find a replica. The uniqueness and authenticity make people to sought after antique goods. Likewise, antique gold jewellery is valued aside from its actual gold value. Therefore, when taking antique gold jewellery, you deserve a higher value for the Gold than its melting value.
Why Invest in Gold Over Other Financial Investments?
Gold is often associated with considerable significance and emotions in Indian culture. However, emotional strings have nothing to do with financial investments. Therefore, one should be more mindful than emotional while making financial investments. Hence, here are the practical reasons you should invest in Gold over other mediums.
- It Is Simple to Liquidate:
When committing to a financial investment, you consider it a backup during emergencies. The money should be available for you to use during a crisis. Otherwise, saving money has no value when you can use it when you need it. There is no better investment option than Gold, which can be exchanged for instant cash! Also, there are always reputed gold buyers across India ready to purchase gold at better market rates.
For instance, during the covid crisis, many had lost jobs, had salary cuts, and had medical emergencies. For these reasons, people have used their gold jewellery to meet their needs. Across India, about a 33% increase in gold recycling during the second wave of COVID-19, that is, in the first quarter of 2021-22. (source – Indiatimes ) Investing in Gold when the gold rate is under control could be the best way to start a financial investment.
- Lesser Risks Involved:
Compared to other financial investments, you have potentially lesser risks involved with Gold. If you are a beginner, you don’t have to expose yourself to many troubles. Also, it always outpaces other financial assets. If you are planning a long-term investment, you can consider gold jewellery a low-risk and safer option.
Basic knowledge of the current gold rate and conducting simple research when selling your Gold helps you save a lot of money and prevents disappointment. Look for authenticity, customer service, trust, and service delivery to identify prospective jewellers to sell your gold jewellery at the best price.