Gold selling is quite popular not only in Singapore. This phenomenon can also be seen in America and Europe. The reason for its popularity is not surprising, what with the recent economic bubble burst. With more people looking for alternative ways to earn money, they’re turning their sights from additional jobs to disposable luxuries. It helps that the current price of gold is rising, so now is actually the right time for you to sell your gold valuables. If you’re looking for a short term solution to your credit card bill problem, your current account overdraft, or your loans, selling gold may be a good option to look into.
But the popularity has a price. Because several people are selling their gold pieces, many individuals and enterprises are also offering to buy gold. Several choices for gold selling should be good, but only if you know what you’re getting yourself into.
The reliable buyer
Perhaps the most reliable buyer of gold is a high street jeweler. This is usually a company or an individual who buys gold without the benefit or use of any other gimmicks (which you will find out later on). They use no advertisements and no fancy gold selling events; they only rely on direct clients and contacts. You can find jeweler by contacting retail and commercial sellers (if they don’t buy gold themselves). In a way, this route takes time, especially if you compare it to other selling options. The jeweler really takes time to assess your item’s gold content in order to give you a fair price. If you’re not in a hurry (if your credit bills or home loan payment obligations are not yet due, for instance), this is your best option. However, if you want something quicker, you may need to look for other types of sellers.
If you want a faster yet still reliable option, pawnbrokers are the next safest bet. As you may know, a pawnbroker doesn’t really buy valuable; they merely lend you money while you give a valuable as collateral. You can use your gold as collateral here. While pawnshops do not give the best prices, they give you the option to get your gold back (by paying your debt plus interest, of course). It’s a best short term quick money option—perfect if your daunting credit card bill deadline is looming and you’re out of options.
Actually the best way to buy gold is to go to the central bank and offer your home for it, for a typical hdb in the least valued district like bukit Panjang, it will probably get you around 150 oz of gold, whereas if you own a 3 room condo in CBD area you may be able to get 1000oz of gold. Willing buyer willing seller