Safe-haven appeal? Gold down 3% from ₹1-lakh mark: How to sell physical gold and make profit? | Mint
The surging prices of gold has increased the investment bet for traders over the safe-haven appeal. Gold is seen as an asset, not just for investment purposes, but also auspicious for Indian homes. According to analysts, India’s gold rally is a reflection of broader emerging market dynamics—currency pressures, inflation hedging, and rising geopolitical risks. For asset allocators, it’s a timely reminder that gold remains a critical buffer in uncertain times.
Amid the ongoing geopolitical scenario and rising demand of the yellow metal, gold owners also look for avenues for sell physical gold to encash the commodity and book profits. However nowadays, customers are finding it tougher to sell physical gold, because it is not easy and to get the prevailing price.
Leading jewellers in India who take the precious metal from customers usually deduct the margin on the price. Hence, customers get chances to sell it lower than the prevailing price. However, commdoity experts and analysts have suggested some easy solutions by which customers can sell gold in a hassle-free manner.
Here’s your checklist on how to sell physical gold and book profits:
–What can customers do to sell physical gold in a hassle-free manner in the Indian market today? Especially those who own gold jewellery/gold bars?
Acording to Puja Singh, CEO, Manipal Fintech. (Earlier SahiBandhu Gold Loans), while purchasing the gold, customers should ensure their gold is BIS-hallmarked and maintain proper documentation to aid in accurate valuation. It’s best to approach trusted jewellers or certified gold-buying platforms that provide transparent valuation and offer rates according to daily market prices.
However, for those seeking liquidity without selling their gold, opting for a gold loan is a more secure and smarter solution.
Those who own gold/,jewellery should only approach those jewellers from where they purchased the same. Those who want to encash old gold/jewellery at jewellery shop should bring in old purchase bill along with detailed KYC , valuation report, purity certificates and declaration that encashed gold is not stolen property.
Gold prices slipped more than 1% on Friday after a stronger-than-expected U.S. jobs report dampened hopes for imminent Federal Reserve rate cuts this year, while silver soared to its highest level since 2012. Gold is considered a hedge against inflation and geopolitical uncertainty. But higher rates reduce the appeal of bullion as it yields no interest.
Spot gold fell 1.1% to $3,316.13 an ounce, as of 02:28 p.m. ET (1828 GMT), but rose 0.8% for the week so far. U.S. gold futures settled 0.8% lower at $3,346.60. Back home, domestic gold futures is now trading three per cent lower from its all-time record high mark of ₹1-lakh achieved last month on the multi commodity exchange (MCX).
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