Do you have old gold jewelry and thinking about selling it? There couldn’t be a better way to use them during financial requirements. Although gold is often associated with festivals and celebrations in India; however another sect puts gold in center stage and associates it with investment. The article speaks about the ins and outs of the gold selling process and essential reminders that get you the best benefits of selling your valuable gold. Please read the article to understand the gold-selling processes and their nuances.
Unlock The Hidden Value Of Your Gold:
You Must Know The Purity Of Your Gold:
Even when you are seeking a gold loan, the purity of your gold is checked, and the stones embedded in your jewelry are not taken into consideration. Therefore knowing the exact purity of gold is essential because the value of gold is determined by its purity. The purity of gold is measured in carats that are represented by the letter “K.” The 24-carat gold is considered the purest form of gold, and you get the best benefits if your jewelry is made of 24-carat gold. There are chances that we tend to forget the purity of the gold we purchase. Therefore, keeping the invoice at the time of your purchase saves you from unnecessary confusion. However, jewelry with intricate designs can’t be made using gold in its highest form of purity.
Therefore, BIS has set standards for mixing alloys and metals to craft jewelry. The regulations of BIS setups the limit regarding the mixing of alloys in gold jewelry that also dictates the purity of gold. Therefore if you are determined to sell gold for cash in Kolkata, it is essential to have the BIS certification at the time of selling. It affirms that you are selling certified gold and expect the price to match the quality
Is It Estate Jewelry? Look For The Craftsmanship:
If you are owing your gold jewelry for decades and possibly passed generations, then you could get more value than for the grams you have in hand.
If you hold a piece of hand-made jewelry, it deserves more value than machine-made. The cost and effort involved in the making of hand-made jewelry are well-appreciated in the industry. They are unique, and you cannot find similar pieces again. These factors increase the overall value of your gold jewelry.
Therefore you have to give more attention and observe keenly for the details and creative designs when you sell gold for cash in Kolkata. However, renowned gold buyers in Kolkata evaluate and inform you about the uniqueness of the gold jewelry you own. Chances are there. You throw your prospects out of the window by not knowing the actual value of your gold jewelry. Let’s discuss the factors considered when you own hand-made gold jewelry:
The Raw Material Supplies
The availability and grade of the raw materials used to make gold jewelry affect the value. Also, the rarity of the gold used in the jewelry also affects the price when selling.
The mastery of the craftsman and the designs and intricacy of the design plays a part in determining the value. If you take it to the local pawn shop, you may not know the actual value of the gold due to its design. Therefore, observing these details is crucial if you sell your gold jewelry for cash.
Brand And Reputation:
The brand reputation and proficiency influence the value of the gold. The renowned gold sellers get higher regard for their expertise and craftsmanship. Accordingly, if you have purchased the gold from a reputed buyer, never hesitate to mention that at the time of selling.
Determine The Age Of The Gold Jewelry:
You can determine the age of the gold jewelry by observing the clasps used in the piece of jewelry. The pins and clasps of the jewelry indicate the era to which it belongs. For instance, lobster clasps are not found in modern jewelry. A renowned gold buyer would quickly identify these factors to demarcate the correct value of your gold.
You can also observe the style and period. When you refer to the modern fashion world, you can sense a significant difference in terms of types and trends. The vintage jewelry pieces adopted intricate designs. They would seem completely different, generally large and extravagant in their looks.
Rising Gold Prices In India:
Indian gold rate records have never been this higher; when Forbes mentioned the latest figure, it was INR 60,000 for 10 grams of gold on March 21, 2023. (source : forbes ) Consecutive global events have a lot to do with the gold rates. The central bank’s rise the interest rates due to inflation, geopolitical tensions, and uncertain activities in stock markets has led to the gold rally.
However, the price of gold is expected to remain stable as gold doesn’t own a strong link between economic changes, unlike other commodities. For instance, gold is relatively used less for industrial purposes, unlike silver or platinum. Therefore the prominent usage of gold goes for jewelry and investment. Consequently, the demand and the price of gold tend to remain unchanged regardless of economic circumstances. Thus, there wouldn’t be a much better time to sell your gold. However, consider the four indicators to get the best returns.
People rave so much about monetary stability and coping with financial stress and anxiety. Economic instability could lead to a vicious cycle of poor financial health and mental health. Gold is the best way to invest as it applies to almost anybody with any income range. However, selling gold at the right place and right time plays a part in yielding the best yields. With the tips discussed in the article, you can get the best benefits out of your old gold jewelry.