Selling gold in India involves more options than most sellers realise, and the difference between the best and worst offer can be surprisingly large. Whether you are selling jewellery, coins, or bars, the process requires some preparation to ensure you receive a fair price.
Option 1: Local Jewellers
The most common route is to sell back to a local jeweller. The jeweller will typically test your gold for purity using a touchstone or an XRF machine, weigh it, and offer you a price based on the day's rate minus a margin. The buyback price is usually 2–5% below the published daily rate. Reputable jewellers with a long history in the locality tend to offer fairer prices than fly-by-night operators.
Option 2: Organised Chains — MMTC, Caratlane, Tanishq
Organised jewellery chains like Tanishq and digital platforms like Caratlane offer structured gold exchange programmes. They typically offer prices within 1–3% of the market rate and provide a transparent, documented transaction. Tanishq's CaratMeter machine provides a certified assay result on the spot. These are often the fairest options for sellers of branded or high-purity jewellery.
Option 3: Banks and NBFC Gold Loan Departments
Some banks and NBFCs that offer gold loans also have a gold purchase facility. Given their access to assaying equipment and established processes, they can be competitive on price for pure gold bars and certified coins.
Tips to Maximise Your Sale Price
Always get at least two or three quotes before selling. Know the day's gold rate before approaching any buyer so you can calculate the fair value yourself. Ensure the buyer tests purity in front of you and provides a written calculation of how the offer price was derived. Weigh your gold on a calibrated digital scale at home before visiting any buyer to avoid disputes about weight.