Companies that Purchase Your Old Gold for Cash

Here are the top 5 companies that pay you instant cash for gold:

Muthoot Gold Point:

Muthoot Gold Point is a division of Muthoot Exim that provides a simple way to sell your old gold and avail of cash instantly. The entire procedure is carried out in front of you, including multilayer scientific testing for precise gold value, and cleaning the gold with ultrasonic equipment to obtain an accurate weight. High-quality crucibles are used by the company, that do not retain any gold after it has been melted.

The company uses transparent methods of selling gold to ensure that customers get the best value for their gold. It should be noted that up to Rs.10,000 is granted in cash. Amounts more than Rs.10,000 will be sent to your bank account immediately via NEFT/IMPS/RT.

Akshaya Gold Company:

Akshaya Gold Company employs modernized German XRF technologies for determining gold purity quickly and accurately. The company offers maximum returns for gold and gold-related items like coins, bullion, and jewellery. In addition to gold, Akshaya Gold Company silver, platinum, and diamond.

With various modes of payment offered by the company, you can avail of instant cash. It has branches in all major cities of Karnataka and Tamil Nadu.

Attica Gold Company:

Founded in 2013, Attica Gold Company is one of the top gold buying companies in India. The company offers instant cash for gold, silver, and diamond. It has over 200 branches spread across the country. Attica Gold Company promises a transparent experience with no hidden fees or unnecessary deductions.

It employs high-precision purity-checking equipment made in Germany. It also provides additional services such as pledge gold, release pledge gold, gold financing, and pledge gold transfer. The company's branches are located in Andhra Pradesh, Pondicherry, Tamil Nadu, Telangana, Karnataka, etc.

Abaya Gold Buyers:

Abaya Gold Buyers is a leading gold buying company with over 70 branches across India. It provides a quick, simple, and authentic process that assures you receive maximum returns for your gold. You can sell gold, silver, and diamond jewellery to avail of cash instantly.

It has branches in Hyderabad, Chennai, and Bangalore. Abaya Gold Buyers purchases all sorts of gold, gold bars, gold coins, silver, platinum, etc., and provides cash through cheque, cash, and NEFT/RTGS. It doesn't deduct any making charges so that you get the best value for selling your gold.

DGold:

Established in 2009, DGold offers instant cash for gold jewellery, bars, and coins. Its Gold Buyback Scheme allows you to sell your gold jewellery now and get it back in 30 or 60 days by repaying. It should be noted that PAN and Aadhaar cards are required for valuations over Rs.50,000.

Transactions at DGold are quick and secure. The company offers various payment modes such as cash, NEFT, IMPS, and RTGS.

Benefits of Selling Gold at these Gold Buying Companies

The benefits of selling your gold at the companies mentioned above are as follows:

1. Gold buying companies might either pay you in cash or credit your account with the earnings of your sale.
2. The weight of beads and other non-gold items are eliminated to arrive at the net gold weight.
3. Gold buying companies will subtract their charges and pay you based on the current gold rates.
4. They use German gold testing devices that examine the purity and weight of the gold.

Documents Required to Sell Gold Jewellery

To sell your gold, you will require 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 you sell gold, you must pay a tax. The short-term capital gains tax will be applied based on the tax slab. The word 'short term' refers to a sale within three years. When you sell the jewellery after three years, long-term capital gains will apply.

Check - GST on Gold

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