HOW TO SELL GOLD FOR CASH IN DELHI GURGAON AND NOIDA INDIA?
At present, gold holds a significant position in the world market. It is not a fact of great apprehension because it has had great importance in every aspect since the discovery of gold. May it be in terms of price or value or with respect to trading, it has the upper hand everywhere? Even under this financial fallout, it has stood upright owing to its inverse correlation with other stocks. The precious metal can also affect the world economy and elevate it to a new level. Therefore, gold can be a good investment option for traders or an asset for a common man.
POSSIBILITY OF SELLING GOLD AND COINS
It is to be noted that gold prices are increasing day by day, without any halt. India does not have a spot gold exchange option, and therefore, a major fraction relies on imported gold. However, the advantageous part is people do have old jewelry and coins ornaments in their possession. Does this ring any bells? Yes, what if the people can sell their old ornaments and make a profit out of it? As of today, the price in India was quoted to be about 52,350 rupees per 10gm of gold of 99.99% purity. With this high price, it is the best time to exchange gold for cash. Everybody would have old gold in their home or bank lockers. Converting it into cash can only give you earn your profits.
Factors That You Should Be Aware Of
Jewelry and coins can be sold at reputed jewelers or gold buyers in Gurgaon. So, before selling your precious ornaments, you should know certain factors about the same.
- Resale value: Resale value is the value of money you get while selling your old ornaments. This is because you won’t get the value according to the present market price. Yes, the price will be calculated according to the market price, and some extra deductions will be made that based on certain technical factors.
- Purity: The purity of the gold is indicated in the form of Karats. For instance, 10-karat indicates 41.7% purity, 14-karat is 58.5% pure, and 18-karat has 75% purity. 24 karat is 99.99% pure and is considered as the purest form commercially available. The price will be quoted based on purity. Usually, people use German Karat meters for the same.
- Weight: The jeweler will weigh your gold first. The weight will be noted, and thus the price is determined.
- If your ornaments contain designer stones like emerald, then the weight of the stones is deducted. The stones will be completely excluded, and the rest of the items will be weighed. Price is quoted based on this weight.
Factors To Be Ensured
To get a good and satisfactory profit, without any disparity, you should also do your homework. Some factors that you should check on are as follows:
- Find a legit buyer: This is the primary thing that you should see too. Rather than falling inside the trap of fraudulent businesses, find a trustworthy gold buyer in Delhi who will give you substantial money according to the market price. Enquire about them and have a clear knowledge about the transparency of their dealings.
- Ensure the jeweler’s location: Make sure that the buyer does have a working office with proper licenses. Check yourself by visiting the location in person.
- Make a complete list: Make a list of what all you have to buy. You may have gold in different forms like ornaments, coins, bars, antiques, etc. Make out a list of all of these. This is because different firms have different resale values in the market.
- Take opinions from different buyers: It would be idiotic to rely on only one buyer. Always consult with several gold buyers in Noida and all over Delhi NCR India and discuss with them about the profit. This can help increase the transparency and integrity of the transaction.
- Recycling gold: Consider buyers who have plans to recycle your ornament rather than selling it directly. Such buyers will quote a significant price as they are in need.
DIFFERENT FORMS OF GOLD AND THEIR PURITY
- Bars – 99.99% purity
- BIS Hallmark – 91.6% purity. 3% of the price will be deducted as extraction losses.
- 22 karat – 91.6% purity. 7% will be deducted as extraction losses.
Thus, the recent market holds a favorable stand for gold than other precious items like silver and diamond. Use this opportunity wisely.
