Gold Sell- If you want to sell your gold but dont know how, then this article is for you. Gold prices are increasing rapidly. Already it has been crossed Rs 1 lakh. Gold prices have risen sharply in the last few months. In such a situation, many people want to cash in on the high prices by selling the gold or jewelry kept at home.

In India, gold is considered important in every form from tradition to investment. But when it comes to selling physical gold, such as ornaments, jewellery, coins, people often end up making deals at a lower price due to lack of correct information. If you want to sell the gold kept in your house profitably, then it is very important for you to know where and how to sell the gold or jewellery, so that you can get maximum profit.

How valuable your gold is is not determined by the design alone. Things like its purity, hallmarking and custom work also determine the selling price. Hallmarked jewellery often fetches a better rate because the purity of gold is certified in it. In contrast, buyers of jewellery without hallmark get the purity checked themselves and reduce the price.

How is the selling price of gold decided

  • Purity (24 karat, 22 karat or 18 karat)
  • Net Weight (excluding designs, stones etc.)
  • current price of gold in market
  • You pay making charges and stone value when you buy jewellery, they are usually not available at the time of sale. Therefore, only the value of pure gold comes into calculation.

Where will it be profitable to sell gold?

Jewelers near your home are easy to buy from, but sometimes they give low prices or argue about purity. It is wise to deal only with old and trustworthy jewelers. Platforms like MMTC-PAMP, Attica Gold, GoldMax buy gold transparently at market price after checking it through X-ray machine. You can get slightly better price here.
Brands like Tanishq, Kalyan provide buyback or exchange option for old jewellery, but this facility is applicable only on their jewellery and sometimes a discount is made. Some digital companies pick up the gold from home and pay at real-time rates. However, a thorough check of security and trust is necessary here.

What things should be kept in mind before selling jewellery?

Check daily gold rate, it may vary from city to city.
Get the purity of gold checked before selling it.
It is better to get the test done from a government BIS certified lab.
You will not get higher price on sale of jewellery without bill.
Ask about the gold rate at more than one place and compare it.
If the jewellery has stones embedded in it, get them removed. Most buyers don’t pay for it.

Which documents will have to be submitted?

While selling gold, generally identity proof (Aadhar, PAN etc.) is asked for. If you have a bill or hallmark certificate then take it. This can improve the rating. Even if there is no bill, most of the local buyers buy gold, but with a small discount.