For All Indians, gold is more than just an investment. We have an emotional connection with our gold. This is evident from our meticulous selection and handling of gold jewellery.
However, when faced with a cash crunch, the easiest solution is of course gold. Sticking with our sentiments and foolishly holding onto the gold at that point would definitely not be a wise choice. When an average Indian needs some quick cash, they usually think of taking out a loan against their gold. But this is the time for us to be thinking if it is more profitable to take out a gold loan or to sell our gold.
We are surrounded by businesses that offer gold loans. They seem to put forth many attractive offers as well. However, once you take out a gold loan, you are in debt. From that moment on, you start to worry about the interest rates and how to get your gold back by repaying the loan amount.
Why would you want to put yourself in frustrating situations like these that go on for years? In emergencies, think about selling your gold to meet your financial needs. Jewellers like Joyalukkas buy gold from you irrespective of the jeweller you originally bought it from, and pay you cash upfront without wasting your time on needless formalities.
Of course, the most attractive feature here is the ready payment of cash. Rumours abound that certain jewellers only pay fair prices for gold that was sold from their own outlets. However, jewellers like Joyalukkas have been paying the best price for your gold no matter where you originally bought it from. Joyalukkas also ensures that our customers don't have to wait long hours for payments and that the entire process is very transparent.
You can see it is best to sell your gold to jewellers like these in case of financial emergencies especially since gold prices are at an all-time high. In the global market as well, gold prices have been soaring. Even if you do not require cash immediately, you could use this opportunity to sell your old gold jewellery at attractive rates and boost up your savings.
Experts in this field stress on the pointlessness of lamenting over gold you sold to sail through financial emergencies. When your financial woes are over and you can afford to purchase gold again, you can surely go ahead. Considering the huge rate of interest, you would be paying if you took out a gold loan, the making charges on a new, trendy piece of jewellery is not all that huge.
Say you do not require cash immediately, but you want to exchange your gold jewellery for some new and trendy designs. There is no better time than now to be doing this. The gold you bought years ago at small rates could be sold at twice the price now. Now is also the best time for you to exchange your old gold for new pieces.
You can now choose your favourite designs from home without visiting the jeweller. If you plan to shop from Joyalukkas, you can check out the available designs on the website www.joyalukkas.com and pick out your favourites.
You could also invest your money by buying gold during this time. Jewellers let you make bookings for pieces of jewellery by making small advance payments. Even if gold prices soar after you book your gold, you get to pay the rates as on the day of booking. On the other hand, if gold prices drop after your booking, you are offered the new, lower rates for purchase. Joyalukkas's Easy Gold Purchase Scheme is one such scheme. You can be part of such schemes by depositing a fixed amount of money each month.
Once you start making deposits towards the Easy Gold Purchase Scheme, you get to purchase your favourite pieces of jewellery at the current rates without paying making charges and other such charges. Keep in mind that you will still be liable to pay the price of precious stones, if any, used in the design as well as all applicable taxes. If at all you intend to withdraw your deposits before the duration of the scheme, you can purchase gold for the exact amount that you had managed to save thus far.