Gold is considered one of the most precious and most valuable metals in India. Almost every Indian household stores gold as insurance during contingencies. Selling gold for cash has inherently become common among Indians because it is the best option to meet immediate financial requirements. For instance, you can sell your gold and arrange funds for a medical emergency, education, travel, or even for investment.
The window of opportunity to sell your gold for instant cash is when the gold jewellery price in India rises. For instance, today gold rate in Bangalore and Coimbatore has hit a new high record. It is, therefore, the right time and a smart way to convert your gold into cash is now.
How to get the best deal while selling your gold?
You can quickly sell your unwanted gold in the gold market. However, the challenge lies in knowing all the innovative ways to get the best deal possible. You can opt for a pawn shop, jewellery shop, and other authorized gold dealers, but it is crucial to be well-informed about gold jewellery prices, buyers, and other factors before you rush to a gold dealer.
Do not act on your impulse.
Some people sell their gold before vetting on the market and getting less cash for the gold that deserves more. It happens when sellers are desperate for funds. You should not sell your gold right away just because you need money.
Research the market, visit pawn shops, jewellery shops, and online trading spaces. Having complete knowledge of the current scenario will help you get the best price for your gold.
Consider a specific time to sell
Today the gold rate in Bangalore and Coimbatore is at its peak, and it may be reason enough for you to sell your unwanted gold jewellery. Some factors that dictate the gold jewellery price is the economy, the currency rate fluctuations, inflation, etc. The best time to sell your gold is, perhaps, when the economy is looking rocky. When more people invest in gold, the gold jewellery price will increase, opening a window of opportunity for you.
Check the value of your gold.
Ensure that your gold jewellery is hallmarked to erase buyer’s doubt about its purity, and get your gold weight as well. When you get your gold hallmarked and weigh it, you will know exactly how much it is worth based on the current market prices.
Visit gold jewellers that have a karat meter and check the value of your gold along with its purity. Knowing the exact value of your gold gives you an upper hand while negotiating the gold jewellery price with your buyer.
Find a reliable and reputed buyer
Finding a reputed and reliable gold dealer ensures the best available price based on the current market rates. In this era of the internet, anything can be found online, including reviews about your buyer that offer great insight into the buyer’s attitude.
Whether your preferred buyer is genuine and legitimate impacts the gold jewellery price you can get. So, before handing your gold, ask for their credentials and other requisite documents. Having a reputed buy enables you to get the best price available.
Know where to sell
With the advent of the internet, gold buyers have now made it easy for customers to sell their gold online. Besides that, there are physical stores where you can visit personally, but the downside is that you will have to inquire about the prices individually, which is time-consuming.
However, the best part about selling online is that you can get instant gold jewellery prices to compare them for better deals, and the process of selling your gold ornaments is easy and convenient. Your dealer’s representative can visit your house, calculate the value of your gold, and give you a price right on the spot.
Keep your bill or invoice with you
When giving your gold for cash, make sure that you have its purchase invoice with you. A genuine gold buyer should ask you to present the bill or invoice when you sell your gold. The purchase invoice contains information about the purity of the gold, its weight in karat, which may prevent any conflict of interest regarding the authenticity of its purity. Your preferred buyer can not deny anything as you have a receipt to prove your stance.
You can choose a pawnshop, jewellery shop, or an authorized gold buyer to sell your gold but to get the best price, you will need to pay heed to the points mentioned above. If you know your buyer, the value of your gold, the time to sell, along with the purchase invoice, you can get a fair price for your gold.