Exchange Gold Jewellery bought from any jeweler get best rate GoldMax
EXCHANGE GOLD with PROFESSIONALS
Furthermore entire staff has undergone the specific training required and the management team’s multiple tests to ensure that they correctly estimate the individual customers’ value.
SPOT CASH FOR GOLD
GOLD MAX offers on the spot analysis of the products and also payback in cash there and then itself.
Likewise in unprecedented times like this, when people are looking for alternative funding sources, selling gold jewellery for cash is a viable option indeed.
EASY PROCEEDURES TO EXCHANGE GOLD FOR CASH
Not to mention GOLDMAX offers a hassle-free and easy process to sell / exchange your gold, silver, platinum, diamond, or other valuable products.
Whatever be the reason to exchange gold jewellery for cash, GOLDMAX guarantees the highest possible value for your assets.
“Indeed, GOLDMAX is the number one gold buying company in CHENNAI and has been awarded multiple times as one of the most trusted GOLD buyers.
HIGHEST MARKET VALUE
Moreover GOLDMAX keeps true to its promise in offering exceptional customer service by providing all its customers with the current market values for their gold and other valuables.
You are sure to receive proper verification and the highest value for your assets, meaning you will obtain instant cash from one of the best Old gold buyers in CHENNAI.
Many people choose to receive instant money by selling gold jewellery for cash in times of need.
That is why GOLDMAX ensures that every customer gets the correct value for their gold. After all, GOLDMAX is a reputed well known and highly reliable old gold buyer.
Undoubtedly, GOLDMAX maintains that proper verification is completed before entering any transaction.
There are certain checks kept in place to ensure the integrity of the procedure. Exchange and selling stolen jewellery is considered a criminal offense.
Hence, every customer must be over the age of 21 years and provide a valid photo and address ID proof.
The GOLDMAX Gold exchange /buy other valuables such as silver, diamond, and coins, etc.
For accurate value and offers you the best prices.
As one of the oldest buyers of gold in CHENNAI, the customers’ satisfaction and trust are the utmost priority.
Contact the nearest branch to obtain the best price for your gold and other valuables.
We are the pioneers in gold Exchange/ buying gold, silver, diamonds, and coins against cash with an experience of 45 years.
We have Outlets in CHENNAI
Gold prices have skyrocketed this year, due to the panic generated by the Covid-19 pandemic. The metal is trading at $2050 an ounce now, up 33 per cent year-to-date, outpacing all other asset classes. Investors and hedge fund managers are queueing up to buy gold in the futures and ETF markets, and this is pushing price of the precious metal higher and higher.
In countries such as the US, the UK and the EU region, a second round of stimulus is expected to combat the continued impact of Covid-19 on these economies.
It must be noted that an easy monetary policy makes paper currencies weak and forces investors to seek safety in gold. According to data from the World Gold Council (WGC), gold-backed ETFs globally have seen record inflows so far this year, adding $47.8 billion as of July 27. Interestingly, in the June 2020 quarter, demand for gold from investors (including those buying coins and bars) was 539.6 tonnes, which exceeded demand from consumers of gold jewellery, at 325.8 tonnes. The last time such a trend was seen was in June quarter of 2016 but, at that time, prices were far cheaper — at $1,182/ounce.
Why hedge funds cut long positions
Besides ETFs, demand for gold in the futures market is also strong now, thanks to hedge funds being bullish on the metal. Since mid-June, net long positions of hedge funds in gold futures has only been increasing. In March, and until middle of June, data from the US Commodity Futures Trading Commission (CFTC) on positions of hedge funds in gold futures implied that the gold price rally would lose the fizz as net long positions of the money managers were dropping. But now, looking back, it appears that it was the supply-side challenges in movement of gold from vaults and mines that made hedge funds reduce their long positions.
There are some interesting facts from the recent WGC report which force the conclusion that the yellow metal rally is not over. First, while in the previous rally between 2008 and 2011, the price doubled — from $900/ounce to $1,970/ounce — this time around, the increase in price has been just 30 per cent. Further, in the current year, the yellow metals’ three-month and one-year rolling returns have moved by only two standard deviations or less, which is significantly below levels seen in previous periods (in 2006 and 2008), when prices increased by three-standard deviations or more. One must also note that adjusted for inflation, the current gold prices are still lower than the 2011 high.
Gold prices may continue to remain strong for more time.
IMF also holds a negative outlook on growth for 2020 and 2021. Weaker economies and weaker paper currencies will support gold prices. It makes sense for investors to add this metal to their portfolio, even at current prices. You can invest 10-15 per cent of your portfolio in gold any time for diversification purposes. Start moving small portions of your portfolio into the metal through gold ETFs or gold futures in regular intervals over the next six months. You can also consider investing through sovereign gold bonds.
Series V of the sovereign gold bond issue for 2020-21 is open now (till August 7); price is ₹5,334/gram. On your investment in the bond, the government will also pay an annual interest rate of 2.5 per cent. The interest earned is taxable; however, capital gains, if any at maturity will be tax-exempt.
Properties of gold as a metal include that it does not rust or corrode, is malleable, and has superior ability to conduct both heat and electricity. Though it has some industrial applications, is largely used as a base for currency and jewellery.
Central banks all over the world also use gold reserves as a form of investment. However, as an investment class, demand for gold is determined by sentiment more than supply and demand principles. Since the supply of new gold mined is much lesser than the amount of gold held by individual hoarders, the price of gold falls when hoarders feel like selling.
***PHYSICAL YELLOW METAL***
There are more advantages to gold when buying it physically. It has no counterpart risk, meaning the value of it will never be zero. It is private and confidential in terms of no one knowing that you own it.
CASH FOR GOLD
Gold is also liquid and portable, making it easy to authorized resale places. Investments in gold can be liquidated much faster than other physical assets, It is also easier to store and comes with low maintenance and carrying costs.
Gold can also protect an investor’s portfolio during a time of crisis. Looking at the graph below, The value of gold doesn’t correlate with the market. When stock market declines, gold has rise more than actually fall in value.
Gold is a natural safe haven when a crisis occurs and fear is rising. Gold ensures that if more people look to invest in times like those, then the prices substantially increase. Gold offers massive profit given the “precarious nature of our economic, financial, and monetary systems”
When you buy diamond jewellery, you don’t get diamonds for its entire value. For instance, on purchasing a diamond worth Rs 50,000, about 17 percent goes towards gold charges (as part of jewellery), another 8 per cent towards making charges and another 3 percent as GST. So, effectively, only 72% of the purchase value is allocated towards buying diamonds.
Making charges are a form of mark-ups and over the years it has supposedly increased to help support diamond rates in the market. So, when you sell diamond jewellery, you will get value only for diamond and gold (mostly at a discount to current rates), while foregoing making charges and government taxes. This will further dent diamond’s price performance.
**Poor Secondary Market**
Unlike gold or silver, which has a very liquid secondary market, it is not easy to sell diamonds. Except for some large retailers, there are no transparent mechanisms of pricing or a system of buy-backs. A precious metal like gold is fungible and liquid. It could be stored and sold anytime in the market. However, that couldn’t be said about diamonds.
**Bigger is Better**
A one carat solitaire (single diamond piece) ring is more expensive than a 25-stone cluster ring. That’s because larger stones are rarer than smaller stones of the same quality. Moreover, if you are in the habit of buying many diamond rings – probably you stand to lose. Diamond prices usually rise in proportion to their size. Some experts in fact advise buying diamonds upwards of a carat. However, that might not suit everyone’s pocket.
**In a Nutshell**
Diamonds might be a girl’s best friends. However, its poor price performance and an illiquid secondary market make it a poor investment candidate. So, buy diamonds only for once-in-a-lifetime gifting and nothing more. Adopt equities or other financial asset classes for meeting your investment goals.
In short, investing in diamond would have eroded your wealth in the past decade. Gold in comparison did relatively better – it was up 84% during the same period, while equities (Sensex) gave a return of 141 percent. Equities gave an inflation-beating CAGR of 9-10% for its investors.
Gold fell nearly 1 per cent on Tuesday as LockDown easing plans boost risk appetite by some countries easing coronavirus-induced restrictions, although recession fears and hopes for more stimulus kept the bullion near the $1,700 level.
Spot gold eased 0.7 per cent to $1,702.00 per ounce by 0701 GMT, after falling as much as 1.4 per cent during the session. US gold futures fell 0.4 per cent to $1,716.20 per ounce.
Some countries, including Italy and New Zealand, announced an easing of lockdowns and more parts of the United States looked set to restart business.
Gold Falls – 2% on Wednesday as investors dumped precious metals in favour of cash after additional stimulus measures by the United States failed to calm markets hit by mounting fears over the economic downside from the coronavirus.
Gold continues to suffer from risk-off panics in the market, trading back below $1,500 level as S&P futures gave up stimulus driven gains.
Gold prices rose on Wednesday, after surging more than 3 per cent in the previous session.
As the US Federal Reserve cut interest rates to help soften the economic blow from the coronavirus outbreak.
Spot gold climbed 0.3 per cent to $1,644.97 an ounce by 0052 GMT.
Having registered its biggest one-day percentage gain since 2016 gold prices in the previous session
G7 finance ministers and central bank governors said on Tuesday :
They would use all appropriate policy tools to achieve strong, sustainable growth and safeguard against risks from the virus, which has fuelled global recession fears.
The World Health Organization warned
Of a global shortage and price gouging for protective equipment to fight the epidemic and asked companies and governments to increase production by 40 per cent as the death toll mounted.
Palladium slipped 0.4 per cent to $2,490.62 per ounce, while platinum was up 0.1 per cent at $875.62.
Silver rose 0.3 per cent to $17.22 an ounce.
Demand for platinum from the auto industry will rise this year for the first time since 2016
But it won’t be enough to offset a decline in investment buying, leaving the global market in surplus again, the World Platinum Investment Council said.
Gold prices fell 1 per cent on Tuesday as investors chose to pocket profits after the metal hit a seven-year high in the previous session, although growing fears over a spike in new coronavirus cases outside of China capped bullion’s losses.
Spot gold was down 0.7 per cent to $1,649.49 per ounce by 0132 GMT, having touched a session low of $1,642.89.
ASIAN shares extended losses amid fears the virus was rapidly mutating into a pandemic that could cripple global supply chains and wreak far greater economic damage than first thought.
The death toll climbed to seven in Italy on Monday and authorities sealed off the worst-affected towns, closed schools and halted the carnival in Venice, where there were two cases, while several Middle East countries were dealing with their first infections.
Financial markets on Monday ratcheted up bets the US Federal Reserve will be pressed to cut interest rates to cushion a feared hit to economic growth from the epidemic.
Bullion rose to a more than seven-year high of $1,688.66 in the previous session.
US gold futures fell 1.5 per cent to $1,651 an ounce.
The 1 per cent fall of Gold prices was because of margin calls but definitely that has triggered an added wave of profit-taking
Spot gold fell 0.2 per cent to $1,562.81 per ounce by 0107 GMT. In the previous session, prices hit their highest since April 2013 at $1,582.59. US gold futures fell 0.2 per cent to $1,566.00.Gold prices inched lower on Tuesday, a day after hitting their highest in nearly seven years, with a lack of immediate escalation between the United States and Iran denting bullion‘s safe-haven appeal.
Gold prices inched lower on Monday as investors moved to riskier assets following the announcement of an interim deal between the United States and China that cooled a 17-month-old trade dispute.
Spot gold was down 0.1 per cent at $1,473.88 per ounce, as of 0050 GMT. US gold futures were down 0.2 per cent at $1,478.60.
The “phase one” trade agreement was announced on Friday and on Sunday US Trade Representative Robert Lighthizer said US exports to China will nearly double over the next two years although officials are yet to decide a date to sign the agreement.
TARIFFS IN CHINA
The United States suspended some tariffs on Chinese goods that was due to go into effect on Sunday, while China State Council’s customs tariff commission said it had dropped its plan for additional tariffs on some US goods.
Asian shares rose as investors breathed a sigh of relief after a thaw in tariff war.
The US economy is doing well and looks set to stay that way next year, two top Federal Reserve policymakers said on Friday, remarks that suggest they are content to leave interest rates where they are However, data from US showed on Friday retail sales increased less than expected in November as Americans cut back on discretionary spending despite a strong labour market.
In the UK, British Prime Minister Boris Johnson will “get Brexit done” by Jan. 31 and then agree to a new trade deal with the European Union by the end of 2020, cabinet office minister Michael Gove said on Sunday.
Speculators slashed their bullish positions in COMEX gold in the week to Dec. 10, data showed.
INDIAN GOLD MARKET
Gold dealers in India offered a discount last week due to plentiful supplies and slack demand during the wedding season, with other regions in Asia expecting improvement in buying ahead of the Christmas and Chinese New Year festivities.
PALLADIU -PLATINUM -SILVER MARKETS
Elsewhere, Palladium rose 0.6 per cent to $1,941.09 an ounce, silver shed 0.1 per cent to $16.92 per ounce, while platinum fell 0.2 per cent to $926.08.