Have old or unused gold jewellery or need financing to bridge gaps? Discover how to get cash for gold.
For centuries, people have considered gold as a safe investment. Selling gold is highly common in India. By visiting a trusted goldsmith or a jewellery shop, people often sell their gold jewellery in exchange for cash.
‘Cash for gold’ as a service has grown in popularity as a quick, convenient alternative to traditional jewellers. There are multiple platforms offering instant payouts and competitive rates. Whether managing a financial emergency or planning a significant expense, selling gold can provide a dependable source of funds when approached wisely.
You can sell your gold jewellery to an authorised buyer and receive instant cash with minimal delay. The process is designed to provide quick access to funds when required. The typical steps include:
Visiting an authorised gold buyer
Assessment of purity and weight of the jewellery
Valuation based on the prevailing market rate
Instant disbursal of funds in cash or directly to your bank account
Key precautions to follow:
Ensure the buyer is genuine and authorised
Compare offers from multiple buyers for fair value
Confirm that purity and weight are tested transparently in your presence
Cash for gold is a service that allows you to sell your gold items, such as jewellery, coins, or bars, in exchange for immediate cash. These services are often provided by jewellers, dealers, gold-buying companies, or financial institutions.
The value of gold generally increases with time. In the last five years, the price of gold has more than doubled. In 2020, the price of 22K gold was around ₹4,200 per gram. By mid-2025, it had risen to approximately ₹6,000–7,000 per gram.
In India, anyone who owns gold legally can sell it to legal buyers in exchange for cash. Those who consider gold an investment make a profit by selling it at a higher price.
Those who are in a financial crunch can also sell their gold to quickly generate cash. Old or unused jewellery can unlock liquidity when you sell it for cash.
Trusted gold buyers follow a transparent process to ensure you receive fair value, with each step listed below conducted in your presence.
Dirt and impurities are removed using ultrasonic machines. This ensures the gold is thoroughly cleaned before testing, providing accurate results.
Advanced XRF machines are used to assess purity without causing any damage to the gold. The process is quick and reliable, giving you confidence in the evaluation.
The gold is weighed with precision. Its value is then calculated based on the prevailing market rate, ensuring transparency and fairness.
Payment is made immediately, either in cash (up to permissible limits) or via bank transfer for higher amounts. This allows you to access funds quickly and securely.
Most buyers expect the following documents:
The gold purchase invoice serves as crucial proof of ownership. It must match the gold’s purity and be in your name. If unavailable, you may need to submit additional documents to verify ownership
A PAN card is mandatory as your identity proof
A driver’s licence, a passport or an electricity/gas/telephone bill can work as proof of address
If employed, you may need to show your company-issued ID card
Business owners may have to provide additional proof, such as a GST or MSME certificates
Many people in India sell gold online or offline without proper knowledge and often receive lower prices. To ensure you get a fair deal, keep the following points in mind:
Always retain the invoice of your gold purchase. It includes details such as price, purity, tax, and purchase date. Genuine buyers may request it during resale, exchange, or repair.
Gold prices fluctuate frequently. Check the daily rate and obtain multiple quotations from different buyers before selling to ensure you receive a fair price.
Verify that your jewellery has a BIS hallmark, typically marked as 916 for 22k gold. If it is not hallmarked, have it tested at a certified purity centre before selling.
Sell your gold only to authorised or reputable buyers. Compare offers and, if possible, consider selling it back to the jeweller from whom you purchased it for greater transparency.
The gold price fluctuates continuously. These rates are indicative and may vary slightly depending on the specific jeweller. You can visit the latest gold spot price websites to know the current rate of gold for today.
When considering selling your gold for cash in India, several reputable options are available:
Many jewellery stores purchase gold from individuals. It is advisable to visit multiple jewellers to compare offers and ensure you receive a fair price.
Accredited gold dealers and recyclers offer services to buy gold items. These entities often provide transparent evaluation processes and competitive rates.
Certain companies specialise in purchasing gold and offer transparent processes, including free purity testing and immediate payment.
Some online platforms facilitate the sale of gold, providing convenience and competitive pricing. Ensure the platform is reputable and offers secure transactions.
Dedicated cash-for-gold shops operate in various cities, offering instant cash in exchange for gold. It's essential to verify their credibility and understand their evaluation methods.
If you want to sell your gold, here are some helpful tips to ensure you receive the best possible value for it:
Gold prices fluctuate daily based on market conditions. Regularly monitor these changes to choose an optimal time to sell.
The value of your gold is directly linked to its purity and weight. Ensure your items are accurately assessed, preferably by a certified jeweller or using reliable testing methods like XRF machines.
Approach various reputable buyers to compare offers. This practice helps identify the most competitive price for your gold.
Possessing the original purchase invoice can facilitate the selling process and may lead to better offers, as it helps verify the authenticity and purity of your gold.
Various factors can influence the gold price, including economic conditions and geopolitical events. Selling during periods of high demand or when prices peak can maximise your returns.
Some buyers may deduct charges for melting, refining, or assaying your gold. Clarify these potential deductions beforehand to avoid surprises and ensure transparency.
Opt for buyers with a strong reputation and transparent processes. Established entities offer scientific testing methods and immediate payments, ensuring a trustworthy transaction.
Selling stolen gold or engaging in fraudulent activity is illegal and will be reported to authorities.
The value of gold is primarily determined by its weight and purity. The current market price, known as the spot price, also plays a crucial role. Factors influencing gold prices include global supply and demand, economic conditions, and currency exchange rates.
To secure the best rate, compare offers from multiple reputable gold buyers. Authorised jewellers, banks, and specialised gold-buying companies are common options. Ensure the buyer uses transparent evaluation methods and provides a fair market price.
The typical process involves:
Yes, you can sell gold without a bill in India. However, reputable buyers may require additional verification, such as identity proof, to prevent fraud and ensure transparency.
Yes, selling gold may attract capital gains tax. If held for more than two years, it is considered a long-term capital asset. This will gain tax of 12.5% without indexation benefits as per the new income tax rules.
If you sell gold held for less than three years, the gains are treated as short-term capital gains and added to your income, taxed as per your income tax slab. The same rules apply to digital gold, gold mutual funds, and gold Exchange Traded Funds (ETFs).
Yes, selling gold for cash is legal in India. Ensure that you choose a trusted buyer for your gold to get a fair price.
Payments are usually made instantly. For amounts above ₹20,000, RBI rules require payment via bank transfer, which may take up to 48 hours.