How To Calculate The Resale Value Of The Old Gold?

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As a country of gold lovers, we Indians buy gold on all auspicious occasions, like festivals, weddings, for gifting purposes, etc. Gold is handed over from one generation to the next in almost all Indian families. Such gold reserves in the family are of great help in financially stressful times. You can take your gold to a reputed gold buyer like Muthoot Gold Point, find out the Muthoot gold rate today, and sell your old gold after calculating its price using the gold price calculator.

Muthoot Gold Point is the first choice of customers who want to sell their old gold for the transparency they offer in the gold-buying process. The Muthoot gold rate may vary from the previous day; hence, always check the gold rate on the day you want to sell your old gold. The valuation of the per gram gold rate at Muthoot Gold Point is done after cleaning and weighing gold. This process uses highly advanced techniques in the customer’s presence. Once the gold is cleaned and weighed, its value is calculated based on today’s Muthoot gold rate. To find out the worth of your old gold, you can use the gold price calculator. Here is how you can find the resale value of your old gold.

BIS Hallmark Old Gold

If your old gold is BIS Hallmarked, a reputed gold buyer like Muthoot Gold Point will give you the full value of your old gold at the prevailing market price of gold on that day. The gold buyer does not charge any depreciation charges on hallmarked old gold. There are no additional wastage charges when a customer sells his old gold, as he has already paid these charges when he buys the hallmarked gold.

Non-BIS Hallmark Old Gold

If the customer’s gold is non-hallmarked, the gold buyer performs a purity test on the old gold to check its purity level and the proportion of gold in the ornament. A computer-based X-ray test shows the estimated percentage of gold in an ornament. The gold buyer melts the gold and conducts the computer-based X-ray test again for the actual value. The difference between the estimated and actual value of pure gold can be up to about 5%.

Factors that Determine the Gold Price Per Gram

The following factors determine the gold price per gram:

1. The purity of gold.

2. The actual weight of gold after its cleaning.

3. The gold rate in the city on the date of sale.

How to Calculate the Gold Price Per Gram Using the Gold Price Calculator

A customer can easily calculate the price per gram of his old gold by using the online gold price calculator. To use the gold price calculator:

  • Select the purity level of the old gold that you want to sell. The purity level determines the price of the old gold.
  • Next, select if the old gold is with gems or stones or without it.
  • Give the accurate weight of the old gold you want to sell.
  • Click the calculate option.

A customer can instantly find the value of his old gold by putting in the above values. The calculator multiplies the gold weight by the prevailing gold price to give the value of gold per gram. A gold price calculator’s values are approximate, and the final values are derived when the gold buyer cleans and weighs the gold.

Benefits of Using a Gold Price Calculator

It is advisable to use a gold price calculator before visiting a gold buyer to sell old gold for the following reasons:

  • The gold price calculator allows the customer to sell his old gold without any fraudulent activity from a local jeweller.
  • A customer can instantly calculate the approximate value of his gold holdings in case of a financial emergency without leaving his home’s comfort.
  • A gold price calculator gives accurate results every time.
  • A gold price calculator is available 24×7 and is free of cost.

The customers can use the calculator as often as they want to find out exactly how much gold he needs to sell to meet their financial requirement. 

rebecca
rebeccahttps://fxdatapanel.com/
Kate Johnson is a content writer, who has worked for various websites and has a keen interest in Online Signals Report and Stock portfolio generator. She is also a college graduate who has a B.A in Journalism. Read More: Fin Scientists >> Read More: Stocks Signals Mobile App >> Read More: Crypto Signals >> Read More: Crypto Trade Signals App >> Read More: Trade Signal Buy and Sell

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