Selling old gold for cash might be due to various reasons, such getting rid of old jewellery pieces which are no more in trend now, or you believe that you would get the best worth for it. Before you go for cash for old gold, it is imperative to know the intricacies of Indian gold market and how it impacts the prices of gold and the value you are being proffered to sell your gold.
The first thing to understand is that the prices of gold fluctuate daily, and many times hourly based on the supply and demand condition of the market. This means when the gold prices are high, so, too is the worth of old items. On the other hand, when market rates go down, so is the value of gold items.
How karats determine the purity of gold?
One of the most elementary concepts you have to understand is how karats impact the purity of gold. Some people assume that the lower the karat, more is the value of the gold. In fact, this is not the case. The simplest way to know how pure your gold is the higher the rating of the karat, the more gold it contains.
To provide you with a general breakdown of how karats and purity are related to each other, consider the following-
14K gold contains roughly 58.33% pure gold.
18K gold contains 75% pure gold.
24K gold is 100% pure gold.
Although, you should stay careful, as not all jewellery and coins are made equally or in the same way. It is uncommon for some people to bring a piece of gold jewellery with 24K gold plating on the exterior.
Considered, but this maybe 100% pure gold, but that does not assure that the entire piece is made of 24K gold. Once the plating of the gold is removed, underside there could be another sort of precious metal, like silver, zinc, or even copper. Trusted second-hand gold buyers can help you understand this in a better way.
Another vital concept you should take note of when you want to get cash for old gold has to do with is how the weight of the gold is determined. In India, whether it’s Gurgaon or other parts of the country, the weight of gold determined by a gold buyer in Gurgaon is based on gram units.
All second-hand gold buyers will use grams as the standard of measurement, and this way you can get a good of a deal on your gold item. Understanding this concept is very much important to sell old gold. Consider this example- you have exactly 10 grams of 24K gold you want to sell.
When you have to sell gold, look for places that offer the best price per gram.
Karats + Weight in Grams Gives the Best Value of the Gold Jewellery
Arriving at a certain value for your gold jewellery needs using both karats as well as the weight of the gold in grams. To begin with, the gold items require to be sorted by karats so its value can be determined accurately.
Some buyers of old gold won’t give you this kind of service and will simply make a “rough estimate” based on the lowest karat gold incorporated within the piece.
To determine the value of your gold, stick to the following method-
Step 1: Sort each piece by karat.
Step 2: Weigh each of the sorted pieces of gold in grams.
Step 3: Calculate the value of the gold.
When it comes to derivation, the percentage of pure gold is multiplied by the existing daily rate to reach an offer price. Although a trusted where to sell gold in Gurgaon would always be a better choice for selling gold.
Which is the best place to sell gold for cash?
This could be tricky as you may be interested in selling your old gold jewellery at a referred place. There is no harm in that as you have recommendations and know that the place would be a trusted one. But, again the same question arises, would it be full of worth. At these places, you may not get the actual worth what are you looking for and since it is recommended; you can’t ask too many questions. So, the satisfaction factor would still be missing.
The best idea in this scenario is to believe your skills and knowledge. Search second-hand gold buyers in Gurgaon and pick the best gold buyer in Gurgaon. Doing this will give two types of flexibility- one is you can ask as many queries you have in your mind, and second is you will get the best current worth for your gold jewellery.
The professionals will answer your questions in order to satisfy the things you are looking for and thus their business will excel. Providing true customer service will help them grow and reach their milestones.
If you think that every buyer of gold offers an equal price, you may need to upgrade your knowledge. Cash against gold branches only uses transparent methods to assess the purity of the gold to give the best price in the market. The purity of the gold can better be assessed with the latest technology using a machine like KARATMETER.
It is always advised that when you are selling gold, keep your eyes open and follow some business news. Doing this will equip you with multiple pieces of information and your awareness and knowledge will also grow. Sell your gold only to the safest hands, and if possible do follow some searching and business evaluation techniques like reading the reviews about second hand gold buyers in Gurgaon.