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:
1. Precise authentication ensures correct sale price
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.
2. Superior analytical testing for meticulous fact-checking
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.
3. Unmatched transparency omits chances of fraudulent activities
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.
4. Software-verified receipt for complete transaction proof
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.
5. Bank transfer for instant money deposit and no
hidden fee
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.