steps to encash gold

Gold has always been considered an ideal investment for masses where they believe that when in need, their gold will help them. Be it an emergency need of health, marriage, studies or any financial crisis, people sell their gold jewelleries or other gold assets.

It has proven to be not just of aesthetic importance but also for its attributes of bringing in more cash as compared to other jewels like silver or diamond. Although silver and diamond has also begun to be encashed, gold has not lost its importance. The affinity to gold, especially in the Indian market has been since time immemorial. But, selling gold can be risky if you do not have the right information or do not get the right place. Here are five steps to ensure that you do not get tricked or duped when you decide to sell your gold. Here you go :

  1. Find the right buyer
  1. While selling the gold, doing a proper research is of prime importance.  Look for buyers who are genuine and authentic. The only way to prevent yourself from being duped is ensuring that you find buyers who are known for their trust, honesty and has been in the trade for long.

  1. Sell on an appropriate time
  1. Selling gold on the right time is imperative. If it is not an urgent need, you can plan properly as to when to sell your gold and where to sell it. Keep a check on the market rates and decide accordingly.

  1. Do not go to intermediaries
  1. Avoid falling into the trap of intermediaries who claim to buy gold and charge a hefty amount as commission.

  1. Do not compromise on the Gold price
  1. Some cash for gold outlets suggest you the prices which are lower than the market rate. Just remember, Gold has a standard price throughout the industry and nobody can offer you a lower rate. Having said that, the value of gold in a jewellery is better judged by the skilled and experienced gold buyers.

  1. See that the testing of gold is done authentically
  1. Choose a place who offer a service of testing gold through the precise and modern technology. Also make sure, that the testing is done for you.Its normal to have apprehensions before selling gold and other precious treasures but if you do a proper research and get to know about the buyers beforehand, you can sell your gold with ease.

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