Want to sell the gold you have at home? Check these things first, or the jeweler might cheat you.

Gold Selling Tips: Gold prices are at record levels, and many people are considering selling their jewelry. But making a deal without the right information can lead to losses. Make sure to check these important points before selling.

Gold prices have reached record levels these days. In Delhi, gold prices are above ₹1,34,330 per 10 grams, and 22-karat gold has reached ₹1,23,150 per 10 grams. In this environment, many people want to take advantage of the high prices by selling their jewelry or old ornaments. But haste can lead to losses.

In India, gold is not just considered jewelry but also a reliable investment. However, when it comes to selling physical gold, a lack of information often leads to significant losses. Jewelers sometimes mislead people about purity, weight, or rates and buy the gold at a lower price.

First, it's important to understand what kind of gold you have. The price of jewelry is not determined solely by the design. Its purity, hallmark, and custom work are also important. Hallmarked jewelry usually fetches a better price, while deductions are often made for non-hallmarked jewelry in the name of purity testing.

When selling gold, its price is determined by three things: first, the carat or purity; second, the net weight; and third, the market rate for that day. The making charges and the cost of stones, which are paid at the time of purchase, are not recovered at the time of sale. Therefore, the calculation is always based on the value of pure gold.

Now the question arises: where is it most profitable to sell gold? Local jewelers buy easily, but they may offer a lower price. On the other hand, branded buyers like MMTC PAMP, Attica Gold, and GoldMax offer transparent rates after X-ray testing. Some jewelry brands also offer buyback options, but with certain conditions.

Before selling gold, keep some important points in mind. Always check the daily gold rate, as prices vary from city to city. Get the purity of your gold checked at a BIS-certified lab. Get quotes from more than one place and compare them. Have any stones in the jewelry removed, as you won't get paid for them.

When selling gold, identification documents are required. Typically, an Aadhaar card or PAN card is requested. If you have the original bill or a hallmark certificate, be sure to bring it along. This increases trust and can help you get a better price. Having the right information is the best way to avoid being cheated by the jeweler.