Gold jewelry is precious and is your great possession. They help you flaunt your position and dignity in the society, and also assist you in times of financial crunch as in terms of Loans. Therefore, it becomes very much essential for you to be well-informed about every possible fact about your Gold which includes its price, quality and purity percentage. Gold Valuation is used to know all that. While people know about this process, there are many uncertainties doing the rounds in their heads like- Where to get the jewelry valued? What are the Gold valuation charges? Gold Valuation near me? Well, we can help you out finding answers to these questions. We have been, for more than 30 years involved in this business and help doing valuation free of cost.
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In simple words, the calculation of the value of Gold by the valuer to know it’s the price is known as Valuation. The one who estimates the value of Gold professionally is known as Valuer. Anyhow, Gold valuation is not as that easy a process as its name suggests, instead of a complex one that involves human expertise in the field along with the use of appropriate technologies. However, there are certain parameters on which the valuation of Gold is done. It is always preferred to go for a recognized Valuer for the Valuation process instead of local Jewellers. These local Jewellers might report false to you for their own selfish reasons and leave you at a loss.
However, you need to be extremely careful during the Valuation and should keep a note to these under listed things:
- Date on which valuation has been made
- Name of the dealer
- Description of each item of jewellery.
- Total gross weight of each item of jewellery.
- Net weight of Gold
- GST rate
- Making changes(if any),
Your Gold is precious to you and you should have all the clarity about its price, quality, and purity. And that’s what we find during the valuation process. You will get to know about the actual price for your gold in the market and purity of your Gold. With that, you could sell your gold at a better price in the market and also earn profits. When you intend to take the loan against Gold, you have to pledge your Gold for it. You should also get your Gold valued so that you could be aware of your Gold quality and whether it is 18k or above so that it is accepted by the bank or NBFC’S from where you are taking the loan.
You can find out the value of your Gold yourself by using a simple formula. -If you are using the karat purity Value of Gold in the sample = (Weight of Gold x Purity of Gold x Rate of Gold today) / 24 -If you are using percentage purity Value of Gold in the sample = (Weight of Gold x Purity of Gold x Rate of Gold today) / 100