Gold has been a vital part of India’s Economy. Many people buy gold for security and to bypass cash inflation. Gold has been the default investment in the day-to-day lives of Indians.
Due to a lack of knowledge, most Indians fall into the trap of selling gold at low prices and often get scammed by some jewelers. To your rescue, the best gold buyers in Bangalore have come up with the five things you need to know before selling gold.
1.Invoice
An invoice is proof of the gold you possess. Any genuine gold buyer will hand over an invoice for the gold purchased. An invoice contains the price, purity, tax information, and date of the purchased gold. Also, if you want to exchange or repair gold jewellery you purchased, the retailer will ask you for the invoice to ensure it’s his product.
2. Worth of Gold
3. Purity
4. Value After Impurities (Final Price)
You may be surprised, but the actual value of the gold differs from its initial weight. After you agree to sell your gold, the jeweller will melt the gold you want to sell and remove all the impurities such as gemstones and other metals used as alloy from it. After this, the final price of your gold is decided.
5. Where To Sell Gold
It is a dilemma to sell gold as many jewelers are ready to buy gold. You may sell your gold to local jewellery shops or gold retailers but always remember to get multiple quotations to know the local market price. But it is advised to sell gold at the same shop you have purchased it from as the purity of the gold can be easily recognised by the jeweller.
Conclusion:
At last, your ultimate goal is to sell your gold at the best prices. Price matters whether it is a jewellery shop or a large jewellery retail store, and always go for the best price.