Gold is an excellent investment option that people have been using for ages. This is because selling gold transforms into instant cash when in extreme need of money. Indian markets brim with jewellery shops where one can buy beautiful gold ornaments. However, when it comes to selling gold, the same shops shy away and are not very forthcoming. Therefore, when in dire need, people have no option but to look for gold buyers, who most of the time try to take advantage of the situation. Most gold buyers incur huge deductions in the garb of wastage charge, melting charge, and other costs. Helpless sellers end up paying almost 50 to 60% of their gold value in the name of such deductions. So, you may ask, how to sell gold? Is there a foolproof way? Well, don’t be disheartened, there is. It is highly recommended that one should keep in mind the following tips before selling gold to get the best price. ● Bill or invoice- It is best to have your original bill whenever you plan to sell your gold. This will avoid any conflict of interest such as the purity and authenticity of your gold item. ● Purity of gold- In case you don't have the original bill, always validate the purity of gold beforehand. Otherwise, jewellers can manipulate saying that your gold item is of poor purity. ● Gold worth- Remember while selling gold, you will only get paid for the parts that are in pure gold. To avoid any surprises later, it is best to know in advance the worth of your items. ● Gold rate- This is an important factor that determines selling your gold ornaments at a fair price. As the rate of gold keeps fluctuating, always determine the gold rate of the day when you plan to sell your jewellery. ● Reputable buyer- Of course, a gold buyer with high ethical standards and a sparkling reputation is your best bet. Check Google reviews, discuss with your family and friends, and browse the Internet well before settling down for a gold buyer. Unorganized gold buyers who still follow traditional practices can make the whole gold buying experience a hectic one. ● Years in the market- A distinguished gold buyer will have a legacy that stands on values of integrity, high-quality practices, and high customer satisfaction. A buyer who has earned the goodwill of his customers through years of honest work is always recommended. ● Shop around- You can try getting bids from multiple gold buyers before deciding where to sell. This will make you more confident and well aware of the gold buying process. ● Documents- Once you know where to sell your gold, just ensure that you have any of the following 2 documents that the gold buyer may ask for- 1. Pan Card 2. Aadhaar Card 3. Voter ID 4. Driving License 5. Passport In a nutshell, selling gold is a very personal matter and therefore, one should understand the importance of transparency and honesty. In this light, it becomes all the more important to research well so that any last-minute disappointments can be minimized. By reposing faith in Jewels Planet, one of the best gold buyers in Delhi, you are looking at: ● Full transparency in cash for gold process in Delhi/NCR. ● Instant Lab Report Certificate to check the purity of gold.. ● Smooth and fast gold selling process. ● Well-trained, professional, and highly courteous staff for the best customer experience. ● And most importantly instant payment against your gold.

Gold is considered pious in India. It has been associated with the likeliness of Goddess Lakshmi, the deity of prosperity and wealth. Buying gold commemorates auspicious functions and celebrations. No doubt, pledging gold does not go too well with Indian community.

Gold is also a prized heirloom which is passed from one generation to another as a mark of family legacy.

Also, the skyrocketing prices of this metal make it a safe bet against odd times. Be it a medical emergency, financial crisis, business requirement, one can pledge gold to bail out of a perilous situation.

With changing times, the concepts of people have also changed. Pledging gold is no longer considered unacceptable. However, whether one should pledge gold or not is still a debatable topic. 

Pledged Gold Vs. Instant Payment Against Gold

People realise that gold can be used as a security to meet their urgent cash requirements. There is no doubt that gold loan market is soaring today. Most banks as well as NBFC’s provide a loan against gold. But, the heavy amount of interest levied on pledged gold is a major deterrent. One may even lose their gold if the interest amount is not paid on time. For this reason, it is recommended that one opts for getting cash against gold after getting a proper evaluation of their gold.                                                                                

Modern Outlook

With more and more people becoming educated and modern in their outlook, the inhibitions associated with selling gold for instant cash are being shunned. In urban dwellings, people prefer getting instant payment against their gold items. The idea of mortgaging their gold assets with banks or local jewellers does not go too well with their mindsets; they do not want to get entangled in the web of surmounting interest.

Hard Earned Saving/Investment

Many of us buy gold as an investment against a potential financial crunch. No wonder, we put our hard-earned income into it. Pledging gold at the times of need is an option but not really recommended as the process entails lot of complications. As a customer, even if you are being offered lucrative interest rates by the creditor, it is not in your interest to get trapped in the web of accumulating interest of pledged-gold. Moreover, credibility of the creditor is a concern too. Many a times, one may get cheated at the hands of creditor and end up paying huge interest against the pledged gold. 

Financial Literacy

As a customer, one must understand the concept of gold-pledging clearly. The poor segment can be easily lured into the concept without actually understanding the underlying clauses of the process.

Sound financial literacy is required to be able to understand the technicalities involved in the process. Otherwise, it may pose a serious risk to the customer as it would be difficult to regain the pledged gold in case of a default. There are hidden charges, late-payment charges and many intricate obstacles that can torment you with a life long stress.

To summarize, it is suggested that in today’s scenario, you should not burden yourself under the load of ever-increasing interest of pledged gold. You should rather take a pledge to come out of a financial crisis by getting instant payment against gold by evaluating your gold for highest price.