Second to China, India has the biggest collective repository of gold, with Indians owning a mammoth 26,000 tons of gold worth $1000 billion. Gold is viewed not just as a symbol of legacy that’s passed on from generation to generation but is also trusted as a stable and resilient investment option. Since gold is touted as both a status symbol and an investment instrument, it has earned a place in most Indian household lockers and gold vaults across varying quantities. The repercussion of the current pandemic has left the common man with lesser ways to finance their survival, prompting them to liquidate assets. In such situations, MMTC-PAMP’s Gold Buyback program acts as a savior by enabling people to quickly sell their gold for the best possible cash value. Let’s take a look at how they make this possible:
It is important to accurately estimate the authenticity of the gold to arrive at its correct sale value. To gauge that, the gold is initially weighed in its original form and then weighed again after melting. Once the gold is melted and cooled, the next level involves cleaning by pickling and then rinsing again in deionized water. If the gold has any stones or precious gems, it is removed before the start of the process.
Furthering the authentication process, they employ Swiss-engineered X-Ray Fluorescence Technology (XRF) to calculate the exact content of gold in the original form. This technology leaves little to no room for error.
They believe in complete transaction transparency. Customers are invited to view the entire process right from melting to purity verification in real-time. The process is also recorded to be played back later via live CCTV. This eliminates any doubts or chances of mishandling or fraud.
The final software-generated verification receipt has all the important details – right from the purity grade and actual content of gold to the final amount payable to the customer.
The final amount is then instantly transferred to the customer’s bank account, so there’s no room for any hidden fee or fund mismanagement.
The entire buyback process takes an average of forty-five to sixty minutes, enabling customers to almost instantly liquidate their gold assets for funds during emergencies. Note that the customer will have to provide certain verification documents like the PAN Card/Aadhaar Card and a canceled cheque to avail of the buyback option. Customers also have the control to exit the process at any time they wish after paying a nominal charge of Rs. 3000.
If you’re looking to exchange your owned gold for instant cash and without compromising on the return value, the MMTC-PAMP’s Gold Buyback Program is the ideal option for you.
We note RAID’s article of 9 July 2020 “LBMA Should Suspend Gold Refiner MMTC-PAMP” https://www.raid-uk.org/blog/lbma-should-suspend-gold-refiner-mmtc-pamp and the related references,...
Gold is a long-term portable investment instrument. Indians typically have a lot of gold in the form of jewelry handed down for generations, along with a decent amount of bullions and coins bought solely for investment.
One of the world’s most secure online investment instruments, certified 24 Karat digital gold, can be both bought and sold efficiently in India today. Indians have always had an emotional connection with gold, whether it is in the form of physical jewellery, or an intangible investment.