Gold is powerful. Although people cherish all jewellery, there is something about gold that stands out. Whether it is its appealing shine or extraordinary prices that turn out profitable over time, gold retains its importance in the present world. It will continue to do so for centuries to come. Buying and selling gold – both are feasible and profitable, depending upon your upfront requirements.
Why should you consider selling gold?
- Price fluctuation: The prices of gold are not stable. Due to the economy, one day, the price may be inclined in your favour, and the other day the odds are against you. However, the profit you can make on your gold also depends upon the amount of it you have. If you choose to sell gold, chances are the deal will be lucrative, given the present situation. Additionally, the average price of gold keeps increasing, saying that selling gold will be a profitable deal anytime.
- Immediate money: Selling gold is quick money. If you have ready gold sitting at home, look at it as a potential source of extra money. Gold may lose its value over time if you do not maintain it. If you have gold jewellery in good condition, you will be able to milk good money out of it. Some professional buyers sell gold and transform it to use for their redesigning projects. They pay you good money, and you can get rid of the gold that has been sitting with you for so long. The money you receive can be invested elsewhere; it is a win-win situation.
- Practical: Keeping gold with you for a long time without looking after it may result in the items of jewellery losing shine. The jewellery may even break and lose its value if left in an unsuitable environment. Selling gold is a viable option if you do not want to constantly look after it. God requires a car, maintenance and proper containing units. Since gold is expensive, mishandling can lead to a significant decrease in its selling value. The sooner you sell, the better. An entire and intact piece of gold jewellery would sell for a higher price, and you will have better profits.
How is the purity of gold tested?
There are several tests for checking the purity of gold. The two most accurate tests to conclude the purity of gold which most professional goldsmiths use are:
XRF Spectrometer: This method works by exciting the gold atoms and analyzing the nature of the excited atoms. This test is fast and does not jeopardize the quality of the jewellery. It is one of the most reliable purity tests for gold.
Nitric Acid test: Since gold is a noble metal, it is resistant to corrosion and oxidation. The nitric test is performed by rubbing gold against a surface where it leaves a mark. Nitric acid is then made to contact the spot, and if it is not pure gold, the print will corrode. This is one of the most accurate ways to find what percentage of your jewellery was pure gold.