How to Check the Market Value of Your Gold Jewellery?

Need instant cash to meet financial emergencies? Selling excess gold can help meet financial requirements. As of 2019, the total gold held by Indian households was up to 25,000 tonnes.

In India, gold is considered a lucrative investment, whether it is buying gold coins, jewellery, bars, etc. It provides a sense of freedom and benefit. However, individuals might be required to sell their gold in case of emergencies, business expansion, wedding or education expenses, etc. It is crucial to remember that the gold rate can change over time when selling gold. Thus, keeping track of the current market value is vital. 

Steps to Check the Market Value of Gold Jewellery

To get a fair gold price per gram in Bangalore and other cities, follow the below steps:

1. Identify the Karat Number

When it comes to selling gold jewellery, the first thing individuals need to do is determine the purity of their gold. This is done by checking the karat weight of their gold jewellery. Karat weight is simply a measure of how much gold is in their jewellery and is expressed in karats (K), with 24 Karat being pure gold. The higher the karat number, the higher the gold’s purity. Usually, the karat number is engraved on the gold piece.

The most widely available gold jewellery is 22KT which contains 91.6% gold. 

If the information is unavailable, individuals can assess the purity of their gold by visiting Muthoot Gold Point. 

With Muthoot Gold Point, they can know the purity of gold quickly and efficiently as the gold will be cleaned, and the purity of the gold will be determined on the device. All this will be done in front of the customers, making the process completely transparent. To learn more about the valuation process at Muthoot Gold Point, click here. 

2. Check the Weight of the Jewellery

After identifying the karat number, the next step is to check the weight of the gold jewellery. This will give an idea of how much gold an individual is selling and how much money he/she can expect to receive in return. Gold is weighed in ounces/grams, so individuals need to convert the weight of the gold jewellery to ounces to get an accurate estimate. It can be done by multiplying the weight of the jewellery by 31.1 (the number of grams in an ounce).

An individual can determine the weight of gold jewellery through a jewellery scale. 

The best option is to visit Muthoot Gold Point. With Muthoot Gold Point, the entire process of selling the gold is seamless; the gold rate, purity, and weight are checked through advanced technology. 

3. Find the Current Market Price 

There are a few different ways to check the gold rate. One way to check the gold price per gram in Bangalore or other cities is to check online on a website or go to a physical store that sells gold and ask them the rate. Whichever way individuals choose, it’s crucial to stay up-to-date on the current market price to make sound financial decisions.

It is imperative to note that gold prices can differ from location to location. The gold price per gram in Bangalore will vary from other cities. 

With Muthoot Gold Point, one can know the purity, weight, gold rate, quickly sell gold and get instant cash as per the current market price. 

4. Calculate Market Value 

Now, the final step is to find the market value of the gold jewellery.

Value of gold in the sample = (Weight of Gold x Purity of Gold x Rate of Gold today) / 24( in terms of carat purity).

Value of Gold in the sample = (Weight of Gold x Purity of Gold x Rate of Gold today) / 100.( in terms of percentage purity).

Now that an individual knows how to check the market value of gold jewellery, he/she can quickly sell the gold.

If individuals want to know the market value of their gold, they can use Muthoot Gold Point’s gold price calculator. 

Through the calculator, one can quickly and conveniently figure out the exact price their gold jewellery can get. A person has to enter the gold’s weight and select its karat, and the calculator will generate an accurate selling price.

Conclusion

Gold is considered a sign of wealth and prosperity for Indians. Selling it requires some deliberation and they expect to receive the best price for it.

To get the best price for gold jewellery, individuals must understand the steps involved in getting the market value of the jewellery. Many factors also affect the gold prices, such as demand and supply, inflation, geopolitical factors, etc., which can also be considered. 

To sell gold, contact Muthoot Gold Point, one of the most reliable and authorized gold dealers. 

With Muthoot Gold Point, selling the gold is seamless; the evaluation is done before the customers, providing transparency and ensuring that sellers get the best price. As soon as the gold is handed over, the amount is instantly offered to the customer.

Walk into your nearest Muthoot Gold Point branch and take funds in one visit!