Gold Prices in India are touching record highs, prompting many people to consider selling their old jewellery to cash in on the surge. In Delhi, gold prices have crossed ₹1,34,330 per 10 grams, while 22-carat gold is trading around ₹1,23,150 per 10 grams. With prices at these historic levels, selling gold may seem like a smart move, but rushing into it without proper information can lead to significant losses.
In India, gold is not just jewellery; it is also a trusted form of investment. However, when selling physical gold, a lack of awareness often puts sellers at a disadvantage. Many people end up receiving a lower price due to issues related to purity, weight assessment or unclear rate calculations. In some cases, jewellers may exploit this confusion and offer less than the item’s actual value.
Understand What Kind of Gold You Own
Before selling, it is essential to know the exact nature of the gold you have. The value of jewellery does not depend on design alone. Purity, Hallmark certification, and custom work all play essential roles. Hallmarked jewellery usually fetches a better price, while non-hallmarked items often face deductions in the name of purity testing.
Knowing whether your gold is 22-carat, 18-carat, or any other grade helps you understand its true worth and prevents unfair deductions during evaluation.
How is the Gold Selling Price Calculated?
The price you receive while selling gold depends mainly on three factors. These include the carat value, the net weight of pure gold and the market rate on the day of sale. Charges and the cost of stones, which are paid at the time of purchase, are omitted from the sale price of gold.
For this reason, the final calculation is based solely on the pure gold content. This often comes as a surprise to first-time sellers, but it is standard industry practice.
Best Places to Sell Gold
Choosing the right place to sell gold is just as important as understanding its value. Local jewellers usually buy gold quickly and with minimal formalities, but the rates offered are often lower. On the other hand, branded gold buyers such as MMTC PAMP, Attica Gold and GoldMax provide transparent pricing after X-ray-based purity testing.
Some jewellery brands also offer buyback options, though these usually come with specific terms and conditions. Comparing options helps in getting a fair deal.
Essential Tips Before Selling Gold
Before selling your gold, it is advisable to track daily gold rates, as prices vary by city and can change frequently. Getting purity tested at a BIS-certified laboratory adds credibility. Always ask for rates at multiple places and compare offers before making a final decision.
If your jewellery contains stones, it is better to have them removed in advance, as their value is not included in gold resale calculations.
Documents Required While Selling Gold
Identity proof is mandatory when selling gold. Aadhaar card or PAN card is commonly required. Carrying the original bill or hallmark certificate, if available, can increase trust and may help you secure a better rate.
Being well-informed is the best way to avoid losses and ensure you receive the correct value for your gold during this period of record-breaking prices.