4 Different Ways You Can Use Selling Gold For Cash

The demand for gold in India is enormous. Gold has always been a safe haven for investors and is considered a means to get out of a crisis. 

The pandemic forced many people towards a cash crisis, as many lost their jobs, some had to take salary cuts, and others saw a medical emergency in their houses. 

During these times, many Indians consider selling gold for cash to make ends meet.

In the first quarter of 2021-22, i.e., April to June 2021, there was a significant 33% rise in gold selling.

Ways of Using Cash after Selling Gold

There are many ways of using cash after gold-selling; the four most common ways are: 

1. Medical Emergencies 

Medical emergencies are never expected or predictable. The Covid-19 pandemic has taught the world how medical emergencies arrive like a thief in the night. 

In sudden or unexpected emergencies, when money is required instantly for hospitalisation or treatment, individuals may sell gold for cash to fulfill their financial needs. 

If you need immediate cash to finance your medical emergency, Muthoot Gold Point can help. We are one of the trusted gold buying companies in India. Our process is 100% transparent, efficient, and quick. 

2. Pay Off Expensive Loans 

Overdue loans can cause a lot of stress, but it is not something to panic about. If individuals are having trouble paying their monthly installments, the best course of action is to sell gold for cash. 

Gold selling helps to get rid of the interest and penalties that come with overdue debts. It also helps to remove the stress associated with these issues.

3. Education/Marriage 

Every parent wants the best for their child and sending them to college is no exception. With the cost of education skyrocketing, it is difficult to find the funds to send a child to college. 

However, college is not cheap, and many families cannot afford it. That’s where gold comes in. Selling gold allows individuals to get the funds they need for any type of education cost. This includes tuition, books, dorms, and more. Gold selling is a good option as it offers fast and easy access to money.

Similarly, by selling gold, parents can also fund the wedding of their children. 

4. Travel

If individuals want to take a trip to India or go on an international vacation but need means of getting there, they can sell gold for cash.

By selling gold they will receive instant money to meet their travel expenses. 

How to Sell Gold with Muthoot

With Muthoot Gold Point, the entire process of selling the gold is seamless; the gold rate in Pune and other cities, purity, and weight are checked through advanced technology. 

Individuals can sell their gold in just 5 steps:

1. Visit Muthoot Gold Point with your gold for valuation. 
2. The dirt from the gold will be removed with ultrasonic machines to get the weight of the gold.
3. Now, the gold’s weight, purity, and value will be checked on advanced XRF machines in front of the customer. 
4. The gold will be valued based on its current gold rate in Pune and other cities.  
5. Finally, you will receive an instant cash payment of up to Rs. 10,000 and any amount higher than Rs. 10,000 will be transferred to your bank account.

Conclusion

Selling gold is a process that many people choose to undertake, as it can be a way to raise both short and long-term capital. However, before individuals sell gold to someone else, there are certain things that they might consider.

Before giving the gold away, individuals are advised to check out the gold price. When demand for gold is high, prices will surge. During weddings and festive seasons, gold prices will shoot up. If people sell when the prices are high, they will receive more cash against the gold.  

Muthoot Gold Point is a trusted gold dealer that provides the best price for your gold. With Muthoot Gold Point, one can quickly know the current gold rate in Pune and other cities, sell your gold, get instant cash for gold and assured gifts.