Where to sell gold in Kuala Lumpur
Where to sell gold jewellery in KL
The price of gold is currently at its highest level since 2013. If you have old gold or gold jewelry, selling it can be the best way to get cash immediately while taking advantage of the high price of gold today.
There are many places to sell gold, not all of them are as good. The best way to sell your gold is online through reputable buyers, as you will get better prices than you sell through a local pawn shop or jewelry store.
For gold wedding ties, engagement rings and other gold jewelry, we recommend selling to Abdul Razak Gold House (M) Sdn Bhd. They almost always offer the highest or best price for your gold, with a fast and friendly process free of hard-selling sales tactics.
Below, we have provided more information on selling gold locally and online below, including our suggestions to help you get the best deal.
WHAT IS YOUR GOLD VALUE TODAY?
As of September 9, 2020, the price of gold in the US was $ 1,924.27 per ounce or $ 61.87 per gram – a recent record and one of the highest gold prices ever recorded in 2013. Gold prices typically rise in line with declining market value, putting it at recent highs due to the recent devaluation of most stock indices.
Many people have gold, either around the house in the form of old jewelry, such as old gold coins, or in the form of gold bars purchased as an investment.
With the price of gold at a recent high, now is the right time to think about selling gold to free up some extra money.
While the process of selling gold may seem confusing, there are reliable and trustworthy buyers who will provide excellent prices for your gold jewelry, coins or other types of gold.
Below, we have explained everything you need to know about selling gold. Our guide covers how the price of gold works, how much your gold is worth, the best way to sell it at the highest price and the basic process of selling gold online.
We have also detailed the common mistakes that should be avoided when selling gold, as well as the pros and cons of selling gold online compared to local through pawn shops, jewelry stores or other types of gold buyers.
Finally, we have given some expert tips to help you get the best price for your old gold jewelry or other gold items.
How Gold Prices Work
The price of gold is proportional to its weight, with prices usually available for one gram, one ounce and one kilogram of pure gold.
For example, the current gold price (as of September 9, 2020) is $ 61.87 per gram, $ 1,924.27 per ounce and $ 61,837.62 per kilogram. Like other commodities, the price of gold changes frequently, making it important to check the latest price if you want to buy or sell gold.
Unless otherwise stated, the price of gold refers to 24k gold, or “pure” gold, which consists of 99.99% pure gold. If you know the rust gold you have, you can use this gold price calculator. To use it, enter the weight of the item, then select karatage. The calculator will provide an estimate for the value of the item if you decide to send it for evaluation.
How to sell gold jewellery for cash
24k pure gold has a strong orange color and is quite soft and supple. This is the type of gold used for investment class coins and gold bullion (known as bullion). Because of its soft and bright color, 24k gold is not used for jewelry.
On the other hand, less expensive forms of gold, such as 10k, 14k and 18k gold, are commonly used for rings, earrings, bracelets, watches and other gold jewelry. We have described how 24k gold differs from commonly used gold in jewelry in our detailed guide on the types of gold.
Fortunately, this does not mean you can not sell 10k, 14k, 18k or 22k gold. If you want to sell this type of gold (for example, gold bridal gown), the price you will get is based on the content of pure gold that can be extracted from the item after being melted and refined.
We’ve described it in more detail below, with information on how you can determine the amount of pure gold in a variety of common gold items
Gold buyers in Malaysia
If you have ever visited a gold price website or bought gold, you may have seen the term “gold spot price”. The term “spot price” refers to the price at which any commodity (in this case, pure gold) can be bought or sold at any given moment. The spot price of gold is often different from the price of a gold futures contract, which involves the delivery of gold in the future. Simply put, the spot price is the current gold price of the market, and the most important price you should keep in mind if you want to sell.As we mentioned above, the price of gold changes frequently. Gold is a popular commodity traded worldwide in markets such as COMEX New York and Bullion Market in London. Therefore, the spot price of gold can fluctuate based on the current level of demand for gold futures.
How to sell gold jewelery for cash
Why Don’t You Get the Right Spot Price When You Sell Gold
All businesses that buy gold in small quantities will buy it at a lower price than the spot price, which means you will not get what gold is worth when you sell it.
This is just the reality of the business. All businesses have expenses, and companies that buy gold must be able to make a profit in order to continue trading. They also have to bear the costs associated with melting and refining your gold jewelry so that it can be reused.
Therefore, the amount of money you will receive from your gold buying business will not be the exact spot gold price. Instead, this will be the spot price minus the fees added by the buyer to make the transaction economical for them.
The amount you will lose compared to the spot price depends on the type of gold you sell and the trader you sell.
If you sell old gold jewelry in small quantities, you will usually get a lower price per gram than you would like if yes
You sell, for example, large amounts of gold in the form of coins or gold bars.
For gold buyers, commissions can be very different. We generally recommend Abdul Razak Gold House (M) Sdn Bhd for gold jewelry, as the price is lower than other gold buyers, which means you will get a higher percentage of spot price for the gold you sell. However, there are many other buyers out there.
Below, we have described what you do to get the best price for the type of gold you sell.
Gold trade in price Malaysia
The best time to sell gold is when the spot price of gold is high and you are comfortable with the idea of selling your gold coins, jewelry, gold or other gold items. Gold, like other commodities, is constantly changing in value. Like the stock market, finding out whether the price of gold will rise or fall, and “beating the market” for gold is something that wise investors find difficult to do. If you have a large amount of gold and want to sell at the best time, you can use gold forecasting and analysis to keep up with market trends. This can provide useful information on the price of gold, but as it relates to the market, their forecasts are not always perfect. Therefore, it is better to sell gold when you need cash, and when you feel that the price of gold is at a high enough level for you to allow a break with your gold goods.
SELL GOLD FOR CASH
instant cash for gold
As we mentioned above, the price of gold spot you find online refers to pure 24k gold, not 10k, 14k and 18k gold which is commonly used for jewelry making.
The content of pure 10k gold is around 41.7%. 14k gold has a gold content of 58.3%, while 18k gold has a gold content of 75%. This means that you can not use the price of gold places mentioned online accurately to calculate the value of most gold jewelry based on its price.
Some gold selling sites provide calculators that allow you to create pure gold content of gold rings or other jewelry, and then calculate the estimated price of gold used to make the item.
You can use this gold price calculator. To use it, enter the weight of the item, then select. The calculator will provide an estimate for the value of the item if you decide to send it for evaluation.
Malaysia Gold Buyers
BEST PLACE TO SELL GOLD FOR CASH
Finding a place to sell gold can be confusing. Like many things in life, the clearest and most advertised options – especially local gold buying kiosks – are not always the best place to sell if you want to get a fair deal.
There are three main places to sell gold – reputable online gold buyers, pawn shops and local jewelry. We generally recommend selling online if you are looking for the highest possible price for your gold, although each option offers its own various advantages and disadvantages.
Where to buy gold bars locally
Below, we have looked in more detail at how each of these options works, as well as the main pros and cons of each. Click any of the links below to jump directly to that section:
- Selling Gold Online
- Selling Coins or Gold Bars online
- Pawn Shops Near You Who Buy Gold
- Local Jewelry Store
- Selling Gold Online
If you have gold jewelry, coins, gold, or any other type of gold that you want to sell as soon as possible with cash, selling it online almost always gives you the best price.
The main reason for this, as we have explained in many of our reviews of jewelry stores, is that it is more economical to run an online business than to run a large network of physical locations, bricks and mortar.
Because of these lower operating costs, online gold buyers are able to take lower margins on the products they buy and then sell. This means that you, as the party selling gold, will get a better price than you normally get from a brick-and-mortar store.
Selling gold online is a simple process. While the exact steps can vary based on the specific gold buyer you choose, the process is often like this:
You will make contact with famous online gold buyers like Abdul Razak Gold House (M) Sdn Bhd by filling out the contact form on their website.
The company that buys your gold will allow you to choose your shipping method and provide an insured prepaid postal letter for you to use to ship gold jewelry or other items to their valuation team.
The company that buys your gold will evaluate your goods and give you an offer for it based on the quantity of pure gold.
If you accept the offer, you will be paid (usually within 24-48 hours) by check, bank transfer or other method offered by the dealer.
If you reject the offer, the merchant will send your goods back to you. Depending on the particular gold buyer you choose, you may be charged a small fee for handling, valuing and shipping.
Best gold shop in Kuala Lumpur
Abdul Razak Gold House (M) Sdn Bhd
Address:
Bangunan Abdul Razak,
No 61, Leboh Ampang,
50100 Kuala Lumpur.
Phone: 016-6975 846
Email: info@razak.com.my
Website: https://razak.com.my
Map: https://goo.gl/maps/hZvrb7KGcZqz5kKdA
