Exchanging gold for cash is a highly lucrative option for many individuals. It helps them to earn cash without any effort. However, the government of India has regulated the gold industry. It has imbibed a process for the following documentation at each transaction of gold.
This can be a deterrent to many individuals to seek alternatives than exchanging gold for cash. However, many cities in India have still made it an easy option to exchange gold for cash.
Kolkata is one such city in West Bengal where many shops easily encash the gold, even sometimes without following any proper documentation process. If you want to find the best place to get cash against gold in Kolkata, continue reading.
The retail shops which sell golden jewelry are one of the best places to encash your gold. They have a system to check the purity and quantity of the gold. They can also issue a certificate for your gold jewelry. However, if you do not carry the bills of the gold, you might require to agree with the price they would propose. To avoid any discrepancies, it is advised to check the price offered by other gold retailers. It will help you to assess the price of the gold more appropriately.
Local Precious Metal Dealers:
In Kolkata, you would come across many shops which sell precious astrological metals. These shops are always in hurry to deal with customers who need cash in return for gold or other precious metals. You can approach one of those shops. They will check the quality of the gold minutely. Once they decide to buy the gold, they would offer you a certain price. Mostly they do not care about any paperwork or documentation. You can be ensured that you are making some loss over its actual price. However, if you are in dire need of cash, you can get cash against gold in Kolkata from these metal dealers.
If you have gold in coins or bars, you might require to find the right people through your sources. Mostly the local retailers do not buy gold coins or bars. In Kolkata, you can approach famous gold jewelry shops to sell gold bars or coins. However, how much you would be able to successfully sell those gold is always questionable. In this case, you are required to maintain proper bills and documents of the gold.
Online Digital Gold:
Today, the digital world has allowed us to access digital gold as a replacement for physical gold. The transaction in the digital gold market is yet to be regulated. However, one can purchase digital gold online through certain platforms and sell those gold at a high price. The variation of price in digital gold makes it a profitable avenue for the transaction. The digital gold can be used to get cash against gold through a secured digital payment system.
Therefore, to find the best place for exchanging gold for money in Kolkata, you have to traverse the local market and talk to retailers. You are required to assess the price they are offering to buy your gold instruments.
If you carry proper documents, you will be on the safe side. You will not find many hurdles in finding the right buyer. Otherwise, you are required to take all the necessary risks to get cash against gold in Kolkata.