Indians put forward a demand of a whooping 797.3 tonnes of gold in 2021. It was a massive 350 tonnes more than the previous year.
The demand for gold in only the fourth quarter of 2021 was 343 tonnes, mainly due to the wedding season and festivals like Diwali in the country.
Gold is catching up fast with other mainstream assets like stocks and mutual funds.
A large portion of the gold demand in the country comes from the gold jewellery market. FY 2021 registered a 93 percent higher demand for gold jewellery than FY 2020.
People buy gold jewellery for auspicious occasions like weddings, festivals, and religious ceremonies.
This gold, apart from being a status symbol, is also an easy fall-back to arrange cash.
People can sell a part of their gold possessions when there is a financial constraint.
With the skyrocketing gold prices, you can almost always expect a profitable deal on selling gold.
Read further to know more about the gold rate today in Trichy and other cities. Also, find out how to sell gold for cash easily.
How to Sell Gold for Cash in Trichy
Visit the Gold Buyer
The first step to selling gold is to visit a gold buyer. Ensure the buyer is a reputed one with a history of genuine buys and authentic valuation. Customers can visit the buyer and give their gold for valuation.
With a name like Muthoot Gold Point, customers can be sure of getting a fair price for their precious metal.
Furthermore, for the customers’ convenience, Muthoot Gold Point has come up with the facility of a mobile van, the first and only such service in India, where the mobile van goes to the customer’s doorstep and buys gold from there. The facility is available in the cities of Mumbai and Bengaluru currently.
Cleaning of the Gold
Once the customer hands over the gold to the buyer, the buyer cleans the gold before valuing it.
Most local buyers do not clean the gold and deduct the melting cost directly from the gold’s value. It leads to a lower price on the gold for the seller.
Muthoot Gold Point cleans the gold with ultrasonic machines. It gives the weight of the pure gold, and customers get the correct price for their gold.
Checking of Weight and Purity
Once the buyer cleans the gold, he weighs it. Usually, sellers round off the weight of gold, as shown on the weighing scale, to the nearest lowest number. Since gold is precious and expensive, even a minor-looking number here can mean a loss of thousands of rupees for the customer.
Valuers at Muthoot Gold Point use advanced XRF machines to check the weight and purity of the gold. They take up to three decimal points per gram of the weight of gold, as seen on the weighing scale. It gives the true weight and purity of the gold.
Valuation of the Gold
If you sell your gold today, you will notice that most buyers consider the lowest gold rate today in Trichy and other cities.
On the other hand, Muthoot Gold Point values the gold at the current market rate. This change in rate can affect the gold price significantly.
Get the Payment
Once the buyer decides the price at which he will buy the gold, he makes the payment. Most local jewellers and dealers do not give an invoice to the customer.
Muthoot Gold Point gives instant cash up to Rs. 10,000 to the customer. If the amount is higher, they do immediate NEFT/IMPS/RT fund transfers to the customer’s bank account. They also share an invoice for the same with the customer.
Sell Gold Online
The traditional sellers take a lot of time to complete the gold valuation and payment process. With Muthoot Gold Point, customers can sell gold online, which is quick and stress-free. Customers can directly contact Muthoot Gold Point online and sell gold at their doorstep. The process involves simple steps and gives quick access to funds to the customer.
Customers looking for the gold rate today in Trichy can get the best value for their gold valuables like gold jewellery, coins, and biscuits. To locate the Muthoot Gold Point branch in Trichy, click here.
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