Companies that Purchase Your Old Gold for Cash
Companies that Purchase Your Old Gold for Cash
Mar 20, 2024
15 Mins
Introduction:
In India, gold is purchased during every occasion or festival, and the demand for this precious metal is high during wedding season. Jewelry makes up more than half of India's gold market, making it a lucrative investment considering its steady price climb over the past few years.
India has a long history of pledging gold for children's education, marriage, and emergency circumstances. The purity of gold is measured in karat, with 24 karat gold being 100% pure and 18 karat gold containing 75% pure gold. Additionally, 14 karat gold is composed of 58% pure gold, and 10 karat gold contains 42% pure gold.
Here are the top 5 companies that offer instant cash for gold:
1. Muthoot Gold Point:
Muthoot Gold Point, a division of Muthoot Exim, provides a simple way to sell your old gold and receive cash instantly. The entire process is conducted in front of you, including precise gold value determination through multilayer scientific testing and ultrasonic equipment to obtain accurate weight. The company uses high-quality crucibles that do not retain any gold after melting. Transparent methods are employed to ensure customers receive the best value for their gold. Cash up to Rs.10,000 is granted, while amounts exceeding this limit are transferred to your bank account via NEFT/IMPS/RT.
2. Akshaya Gold Company:
Akshaya Gold Company utilizes modernized German XRF technologies to quickly and accurately determine gold purity. The company offers maximum returns for gold, as well as gold-related items like coins, bullion, and jewelry. It also deals in silver, platinum, and diamonds. With various payment options available, instant cash can be obtained. The company has branches in major cities of Karnataka and Tamil Nadu.
3. Attica Gold Company:
Founded in 2013, Attica Gold Company is one of the leading gold buying companies in India. It offers instant cash for gold, silver, and diamonds, with over 200 branches spread across the country. Attica Gold Company ensures a transparent experience without hidden fees or unnecessary deductions. It employs high-precision purity-checking equipment made in Germany and provides additional services such as pledge gold, gold financing, and gold transfer. Branches are located in Andhra Pradesh, Pondicherry, Tamil Nadu, Telangana, Karnataka, and more.
4. Abaya Gold Buyers:
Abaya Gold Buyers is a reputable gold purchasing company with over 70 branches across India. It provides a quick, simple, and authentic process, ensuring customers receive maximum returns for their gold. Cash can be obtained instantly by selling gold, silver, and diamond jewelry. Branches are located in Hyderabad, Chennai, and Bangalore. Abaya Gold Buyers accepts various forms of gold, including gold bars, coins, silver, and platinum, and offers payment through cheque, cash, and NEFT/RTGS. The company does not deduct any making charges, ensuring customers get the best value for their gold.
5. DGold:
Established in 2009, DGold offers instant cash for gold jewelry, bars, and coins. Their innovative Gold Buyback Scheme allows customers to sell their gold jewelry now and repurchase it within 30 or 60 days by repaying. It is important to note that valuations over Rs.50,000 require PAN and Aadhaar cards. Transactions at DGold are quick and secure, and the company offers various payment modes, including cash, NEFT, IMPS, and RTGS.
Benefits of Selling Gold at these Gold Buying Companies:
Selling your gold at these companies comes with several benefits:
1. Payment can be received in cash or credited to your account.
2. Non-gold items are weighed separately to ensure accurate calculation of the net gold weight.
3. Gold buying companies deduct their charges and pay you based on the current gold rates.
4. German gold testing devices are used to assess the purity and weight of the gold.
Documents Required to Sell Gold Jewelry:
To sell your gold, you will need the following documents:
1. Aadhaar card
2. Proof of address
3. Gold receipt
4. PAN card
5. Passport size photographs
Tax Levied on Gold:
It is important to note that when selling gold, taxes must be paid. Short-term capital gains tax is applied based on the tax slab if the sale occurs within three years. After three years, long-term capital gains tax applies.
Please note that the above information is for informational purposes only and it is advisable to consult with a professional for accurate advice on selling gold.
Introduction:
In India, gold is purchased during every occasion or festival, and the demand for this precious metal is high during wedding season. Jewelry makes up more than half of India's gold market, making it a lucrative investment considering its steady price climb over the past few years.
India has a long history of pledging gold for children's education, marriage, and emergency circumstances. The purity of gold is measured in karat, with 24 karat gold being 100% pure and 18 karat gold containing 75% pure gold. Additionally, 14 karat gold is composed of 58% pure gold, and 10 karat gold contains 42% pure gold.
Here are the top 5 companies that offer instant cash for gold:
1. Muthoot Gold Point:
Muthoot Gold Point, a division of Muthoot Exim, provides a simple way to sell your old gold and receive cash instantly. The entire process is conducted in front of you, including precise gold value determination through multilayer scientific testing and ultrasonic equipment to obtain accurate weight. The company uses high-quality crucibles that do not retain any gold after melting. Transparent methods are employed to ensure customers receive the best value for their gold. Cash up to Rs.10,000 is granted, while amounts exceeding this limit are transferred to your bank account via NEFT/IMPS/RT.
2. Akshaya Gold Company:
Akshaya Gold Company utilizes modernized German XRF technologies to quickly and accurately determine gold purity. The company offers maximum returns for gold, as well as gold-related items like coins, bullion, and jewelry. It also deals in silver, platinum, and diamonds. With various payment options available, instant cash can be obtained. The company has branches in major cities of Karnataka and Tamil Nadu.
3. Attica Gold Company:
Founded in 2013, Attica Gold Company is one of the leading gold buying companies in India. It offers instant cash for gold, silver, and diamonds, with over 200 branches spread across the country. Attica Gold Company ensures a transparent experience without hidden fees or unnecessary deductions. It employs high-precision purity-checking equipment made in Germany and provides additional services such as pledge gold, gold financing, and gold transfer. Branches are located in Andhra Pradesh, Pondicherry, Tamil Nadu, Telangana, Karnataka, and more.
4. Abaya Gold Buyers:
Abaya Gold Buyers is a reputable gold purchasing company with over 70 branches across India. It provides a quick, simple, and authentic process, ensuring customers receive maximum returns for their gold. Cash can be obtained instantly by selling gold, silver, and diamond jewelry. Branches are located in Hyderabad, Chennai, and Bangalore. Abaya Gold Buyers accepts various forms of gold, including gold bars, coins, silver, and platinum, and offers payment through cheque, cash, and NEFT/RTGS. The company does not deduct any making charges, ensuring customers get the best value for their gold.
5. DGold:
Established in 2009, DGold offers instant cash for gold jewelry, bars, and coins. Their innovative Gold Buyback Scheme allows customers to sell their gold jewelry now and repurchase it within 30 or 60 days by repaying. It is important to note that valuations over Rs.50,000 require PAN and Aadhaar cards. Transactions at DGold are quick and secure, and the company offers various payment modes, including cash, NEFT, IMPS, and RTGS.
Benefits of Selling Gold at these Gold Buying Companies:
Selling your gold at these companies comes with several benefits:
1. Payment can be received in cash or credited to your account.
2. Non-gold items are weighed separately to ensure accurate calculation of the net gold weight.
3. Gold buying companies deduct their charges and pay you based on the current gold rates.
4. German gold testing devices are used to assess the purity and weight of the gold.
Documents Required to Sell Gold Jewelry:
To sell your gold, you will need the following documents:
1. Aadhaar card
2. Proof of address
3. Gold receipt
4. PAN card
5. Passport size photographs
Tax Levied on Gold:
It is important to note that when selling gold, taxes must be paid. Short-term capital gains tax is applied based on the tax slab if the sale occurs within three years. After three years, long-term capital gains tax applies.
Please note that the above information is for informational purposes only and it is advisable to consult with a professional for accurate advice on selling gold.
Author
Pluto Team
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