Wednesday, 12 February 2020

How To Sell Your Gold At The Best Price

Sell Your Gold At The Best Price

Gold has always remain a great way of investment in our country. It is more likely that people have faith in purchasing gold in any form, be it jewellery or ornaments or gold bricks than investing money in the banks or stock market. Many people used to have more trust on the banking systems but after the collapse after 2008, it has been observed that people in general have more stepped up to make investment in the form of gold as with gold comes no extra barriers. It is always a profitable deal to buy gold since its price won’t be influenced by the external factors like inflation and deflation, currency and stock market.

Now coming to the more important aspect here. It is a great idea of converting your gold into money when the need arises but you must do your little homework before you go on with the plan. The reason behind this is that you cannot just wake up one good day and walk out in some jewellery shop carrying your gold for exchange

You have all rights to do that but there is a high chance that you may not get the accurate price for the quantity of gold you just sold since there are a lot of variations observed and different shops tend you offer you a different amount. Not just that, the even worse part is there are many a times fraudulent practices involved if you have not researched things properly.

It is therefore a mandatory thing to check on certain things beforehand so that you do not become the victim of something you never planned to. First of all, there is no such standard set by norms how much you will get in return for your old jewels, so the best practice is to make a list of good jewellery shops and visit them all once to get a fair idea of how much your gold is worth for. 

A good way to test whether the jeweller is authentic and good or not is that if they ask you to present the original bill. If you have your bills in place, there is nothing which can later on come as a problem specially if you are selling back gold to the same shop from you have purchased them.

One important practice to follow whenever you are purchasing gold is the hallmark of purity. If your gold does not contain that hallmark, there is huge opportunity for the jewellers to manipulate you and make you believe that your good is of poor quality. 

Another thing to keep in mind is that you must check everything and confirm the price for your gold beforehand as the jewellers tend to use different methods for checking the purity of the gold like the acid test and the electric conductivity test. Sometimes they melt the gold as a procedure of the test without letting you have an idea of it. Later on they pay you a lower price turning your dissatisfaction on.

Therefore, it is important to understand that the outside world is not supposed to be as honest and fair as you are. You always need to complete the checks from your end keeping your guards on or you never know when your great investment will incur you a loss. 

But with a little care and concern, you can always earn a good amount of money selling your gold as no matter what, gold will remain a great way of investment. 

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