5 Places to Sell Gold for the Highest Price in 2022

Gold is not just a metal, it is an assurance of security. All over the world people have been buying and preserving their gold for generations.

Apart from the traditional ornamental use of gold that we know, gold is also used in various other places like in medicines, dentistry, aerospace, and electronics.

Not surprisingly, it finds its place in Olympic medals and the Oscars.

Gold is valued not only for its aesthetic value but also for the monetary returns it can fetch in times of a financial crisis. 

However, people looking to sell their gold may get confused about whom to approach. They may wonder who are the best gold buyers near me. Hasty selling to the wrong buyer can give gold sellers financial losses. 

Below is a compilation of the top five places where a seller can get the best deal on his yellow metal. 

5 Places to Sell Gold for the Highest Price in 2022

  • Muthoot Gold Point

Muthoot Gold Point is India’s first national-level organised sector player to deal in recycled gold. They aim to help their customers sell gold transparently and efficiently. 

Muthoot Gold Point employs safe and scientifically tested ways to get the exact value of gold. It gives customers the highest and most fair value for their gold. 

The payment system with Muthoot Gold Point is genuine and instant. Customers can get instant payments for amounts up to Rs. 10,000 in cash. Amounts higher than Rs. 10,000, are instantly paid to the customer’s bank account through NEFT/IMPS/RT fund transfers.  

  • Pawn Shops

Pawn Shops usually purchase gold, so customers can try selling their gold at a pawn shop nearby. 

Pawn Shops offer instant cash for gold, but they offer a significantly lower price for the gold than other dealers. It results in a financial loss for the gold seller. 

Pawn Shop owners are not specialists in gold, so their valuation of the customer’s gold is usually inaccurate, giving customers a lower value on their gold.

  • Local jewellers

A few local jewellers may also buy gold from customers. Like Pawn Shop owners, local jewellers also negotiate extensively while buying gold and offer a low price for the gold. 

They use the touchstone method, which gives only the approximate value of gold, giving losses to the customer. 

Additionally, they do not clean the gold before melting it and value it directly. This does not give the accurate quantity and value of gold too. 

  • Other People

Gold sellers may also sell their gold to individuals who like collecting gold. Selling gold directly to other people can help save on the transaction costs, adding to the seller’s profit.

However, it is not easy to find genuine buyers who would pay instantly and entirely for their purchases. 

  • Local Precious Metal dealers

Local precious metal dealers can also be an answer to your concern about how to find the best gold buyers near me

These companies can authenticate precious metals, including gold, giving an accurate value and weight of the customer’s gold.

Local precious metal dealers are not very popular in India, and you may find it hard to locate a genuine dealer near you. 

How to Sell Gold for the Highest Price

Gold sellers can keep a few things in mind to get the highest price for their gold. These are:

  • Choose a reliable buyer: Check the reputation of the buyer. Online reviews from other customers can give a clear indication of the buyer’s authenticity. Selling to a specialist can give customers the genuine value for their gold. 
  • Sell at the right time: The price of gold increases with other asset classes like stocks are not doing well. If a seller can wait for the right time, it is best to sell gold when gold market prices are high. 
  • Do not hesitate to negotiate: Pawn Shops, local jewellers, and individual buyers try to offer the least possible to customers. Thus, it never hurts to negotiate reasonably for a higher counter offer than what these buyers offer.

Muthoot Gold Point: The Best Place to Sell Gold

Muthoot Gold Point is an excellent option to sell gold. They employ multilevel scientific methods to find the exact value of the gold. The ultrasonic machines they use to clean the gold, give the accurate weight of the gold. Experts at Muthoot Gold Point do not round off the gold weight shown on the weighing scale and take up to three decimal points per gram of gold, which is the highest level of accuracy while weighing the gold. All this assures the customer of the best possible value for their gold. Still wondering where to find the best gold buyers near me here.

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