Planning to sell your gold jewellery? Here is how to get a better value

By: |
September 29, 2020 2:07 PM

With the gold prices hovering over Rs 50,000 per 10 gram, apart from those facing financial crisis, many individuals would also like to liquidate their gold holdings for superior gains.

He added that a strong demand for gold as a safe-haven asset is expected to continue at least until we see that the global economy is back on a solid recovery path.He added that a strong demand for gold as a safe-haven asset is expected to continue at least until we see that the global economy is back on a solid recovery path.

Disposing of your gold jewellery, gold bars or coins at high prices may be a wise option to sail through the financial crisis induced by the Covid-19 lockdown. However, fetching the true resale value is a challenge due to lack of knowledge about the technique used by jewellers to evaluate the purity of gold.

With many countries around the world struggling due to the pandemic-induced economic downturns, many individuals and families may have no option but to sell their gold jewelry, bars, or coins as an imperative means of financial relief, if not absolute survival.

As the gold prices are now hovering over Rs 50,000 per 10 gram, apart from those facing financial crisis, many individuals would also like to liquidate their gold holdings for superior gains.

One of the issues in reselling the precious metal is getting the true valuation for the pure gold content due to the outdated and the imprecise valuation method used – the acid test, which can only approximate the pure gold content, resulting in disappointing offers of lower than expected prices.

To precisely determine pure metal content the modern method used is X-ray fluorescence technology (XRF), the international standard adopted by the gold refining industry.

Now, you have the opportunity to get the true valuation of gold as MMTC-PAMP has introduced the technology in India to make buy-back and exchange offers for gold exciting.

A joint venture between MMTC Ltd, a Government of India Undertaking, and PAMP S.A. of Switzerland, MMTC-PAMP is India’s first and only London Bullion Market Association (LBMA) Good Delivery refinery accredited for gold and silver.

By visiting MMTC-PAMP centre, a customer may get 10 grams to 2-kilograms of gold checked per visit. The 60-minute testing process is fully transparent and sellers can view the entire valuation process in real-time via CCTV monitors.

Upon agreement, after authenticated and weighed, the gold jewellery is melted and cast to form a bar, which after cooled, rinsed and air-dried, undergoes 5 points of XRF testing to determine the exact proportions of metal in the bar and its true metal value.

Customers may either receive the maximum value of their gold as a Direct Bank Transfer or as a 9999/ 999 / 995 pure gold bar for a nominal transaction fee.

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