A Convenient Way to Unlock the Value of Unused Gold is to Sell Gold for Cash Online in Kolkata

This trend to sell gold for cash online in Kolkata has caught up due to its safe and convenient option. It’s a great option to everyone looking to unlock the value of unused gold lying dormant in their respective lockers. This could be gold in any form; jewellery, coins, or ingots. But why, among everything, would you like to sell that gold; which might even be an old heirloom?

Here’s why.

Under the GMS (Gold Monetisation Scheme), 2015 [Source: Department of Economic Affairs], banks accept gold deposits for periods not less than 1 year. This can stretch to 15 years under the MLTGD Government Deposit Schemes [Source: Reserve Bank of India]. This means, your gold will be locked for the specific period either by the bank or by the Government of India. The returns your gold will thus generate under such schemes will vary between 0.55% p.a. and 2.50% p.a [Source: State Bank of India].

That’s kind of ridiculous. For every 100 gram of 24Kt gold (999 Purity/Fineness) you deposit under these schemes, you’ll earn max up to 2.5% interest/₹20,116.14 per annum (at present rate). In 15 years (long-term deposit), it will amount to ₹3,01,742.10. 

Blimey! For 22 carats and 18 carats, the prices will be even less.

Now, calculate the current inflation rate. What value will ₹3,01,742.10 hold 15 years from now if the current annual inflation rate of 5.65% [Source: MacroTrends] continues? What kind of purchasing power will three lakhs of Indian Rupees bring you in 2039? Like it or not, you can’t utilise the gold if there’s a need and have to wait for the lock-in period to be over.

It’s time to rethink your strategies: Sell Gold for Cash Online in Kolkata to make the most out of the gold in your hand. 

Instead, it’s better to sell the same gold for immediate cash and invest the amount to churn out bigger profits. You may invest after a business or just put it in the bank to obtain higher interest (4% to 4.5% than the gold deposit schemes) amounts [Source: SBI]. 

Waiting for a year to get 20K in your bank is ridiculous. Maybe 10X of that amount is a plausible figure to wait for, provided you can deposit 1,035 grams of gold! Do the math.

However, selling that gold online to a legitimate, certified and trustworthy gold merchant is a better option. It grants you access to a wider range of possibilities to generate huge amounts of money. 

Get the Best Prices when You sell gold for cash online in Kolkata. 

Instead of a local pawn shop posing as a gold jewellery buyer in Kolkata, it’s always better to go for an online gold buyer offering higher prices due to the lower overhead costs they incur. Another reason your gold fetches much better prices is the ability of such a buyer to resell the gold on broader, international markets. Since the transactions of such a buyer occur in larger volumes, he won’t rob you to cover the operating expenses. 

A reputable online gold jewellery buyer in Kolkata will also have transparent pricing structures, which is evident from the free quote he provides based on real-time market data. This allows you to gauge the current value of gold, helping you to make more informed decisions or wait until you are confident about receiving a fair price for your gold.

Why and How do You Sell Your Gold to a Reputed Gold Jewellery Buyer in Kolkata?

Selling gold for cash online in Kolkata is a smart move anyone in possession of legitimate gold can opt for. Reason could be dire emergencies or to generate business capital. Or, for investments generating higher interests than conventional gold deposit schemes. But more than that, you’re reducing damage to the environment inflicted through mining new gold in huge quantities. By recycling and reusing existing gold,  you’d also help to conserve this precious metal.

You’ll find unmatched convenience when you are to sell gold for cash online in Kolkata. You can start the process from the comfort of your own home, at any time that suits you. Unlike visiting a local jeweller or a shady pawn shop, you don’t have to make an appointment or deal with limited store hours. The online process allows you to search for buyers, compare prices, and complete all transactions digitally through devices to cash on the gold you’re currently holding.