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FAQs

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How do I know a gold buying company is legitimate?
  • Research the company thoroughly to ensure that they have been in the gold buying business for a minimum of ten years. The more experience the company has, the more smoothly the transaction will go. They will also be more likely to offer you top dollar for your gold.
  • Check out the company’s website. Are the policies of the company clearly spelled out? Is there a physical address and does it list multiple communication options? A lack of clarity when it comes to these three aspects would be an indicator to steer clear of the firm.
  • Read the fine print thoroughly and do not get locked into an agreement before you take time to compare prices with other companies. If the firm tries to lock you in the minute they give you a price, you know you need to be wary.
When I come to Gold Centre, will I get paid money on the spot?

Yes, you will only if the value of the gold is less than 20000 otherwise we will have to give you a cheque or transfer the funds to your bank account.Even if you walk in just for a quick appraisal and do not want to sell, we welcome you.

If I wait, is my gold worth more?

The price of gold fluctuates so only if gold prices spike will you get more money when you wait. There is no way of predicting which way the prices will go.

Do you also buy silver and platinum?

Gold Centre has a refinery unit that deals with precious metals. So we do buy silver and platinum.

If I have jewelry with stones, then what?

If there are precious stones or diamonds then we will have to remove those stones manually or send it to our factory for stone removable for which you will be be charged extra, if your jewellery contains semi precious stone or artificial or CZ stones then these will be broken and removed from the jewellery, these stone will not be able to reuse .

What about pawn shops claim to pay the highest prices for gold?

Customers are advised to look for specific information rather than leap at false promises that sound tempting. Especially when it comes to gold buyers who are acting as middlemen in the gold refining Industry, they tend to seriously undervalue used gold and only pay a fraction of what it’s worth. Despite the tall claims of giving you the best prices, their prices are typically only one-third of the actual gold price. To get the best possible price, sell to a company that has its own gold refinery. Since these companies melt the gold that they buy themselves and then refine it, they can come very close to the actual value when offering to buy your gold. On the other hand, pawn shops have to buy from you, and then re-sell the gold to someone who can melt and refine it, so they have to have a profit margin for themselves. This is usually done by making you an offer that is substantially less than the gold is worth.

Another very important aspect is to confirm that the company buying gold from you will pay per gram. Be wary of gold buyers that won’t quote you a price over the phone, or those who try to tempt you with an immediate payout. It is also best to steer away from gold buying companies that do not advertise their gold prices on their websites. Lastly, no matter what, do your own homework on current gold prices. Don’t assume that because a company is willing to post the current prices they are offering for gold that they are offering the best possible price. Compare the price they are offering to the current actual value of gold on the open market. aid!!!!!

What is the gold rate right now?

Gold prices are constantly changing depending on the activity on the exchange. There are a host of factors affecting gold prices in India including strength of the US dollar, import costs, global economic stability, seasonality and inflation amongst others. Furthermore, gold prices are majorly affected by the gold price fixed at the London Gold Exchange twice a day, in the morning and afternoon. You can call Gold Centre at +91 947 186 6657 for the going payout rate of gold and get the current quote.

Does it matter whether it’s white gold, or yellow gold? Is the price different?

Whether it’s yellow, rose or white gold, the price is the same. It is the purity of gold, not its color which is given by the additives put in the mix, which matters.

I’m considering selling my old jewelry. What does the process involve?

Walk in to our  Gold Centre with your old gold/jewellery,get an estimate first if you r happy with it we will weigh the jewellery which you want to sell in front of you and melt it right  in front of you,in our state of the art induction furnace you can actually watch your jewellery get melted right in front of your eye, then checked for purity on our latest xrf gold testing machine, and finally weighed on certified scales in front of your eyes. It is quick and simple process.

How is gold value determined?

The gold purchasing formula has three determinants- the purity of the gold (karat- 22K, 18K and so on), its weight910g,25g56,48g) and the gold daily spot price/market price on the stock market . While the karat and weight never change, the daily spot gold price/market price can fluctuate by the hour. And the price any jeweler is willing to pay varies widely, as they balance their profit margin. An established, reputable jeweler will generally pay at least 90% to 98% percent of the daily spot gold price/market price..

Pure gold (24K) is bright yellow and very soft. Often, other metals are blended in to make it hard and give it some colour variation. This accounts for the different karat stamps (such as 18K or 22K) found on some jewellery.

A piece of jewelry’s purity is determined by testing processes such as an acid/scratch test, by using an electronic tester, or using an X-ray fluorescence scan or Fire assay. The value of the gold cannot be determined by the stamp alone as scams have become commonplace in the current gold rush. Once the purity is known, a jeweler weighs the piece of jewelry, then calculates its per-gram value against the current market price of gold and deducts a certain percentage depending on the purity of the gold(any where between 2% to 8%).

We at Gold Centre use X-Ray Fluorescence (XRF) technology to determine the purity of the gold. Being uniquely fast and 99% accurate, this technique allows the analysis of gold concentration in jewellery, coins, bars and so on, etc in seconds.

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