How to sell Gold in Singapore? 2023 Guide

Tips for selling your gold in Singapore

Fluctuates in value of Gold

Whether you are looking to part with your gold bar, gold jewelry, gold coins or any types of gold, understand that the value of gold fluctuates. This means you need to be an informed seller to ensure you are getting the best price out of your gold / precious metals.

There are many gold sellers in Singapore including us (Jumbo Gold & Diamonds). This is why we create this guideline to prepare you with your gold selling journey.

1. Find a company / gold buyers in Singapore that you trust
Ask questions like “how many years they have been in the gold business?”, “How informed and experienced are they in valuating my gold?”, “are they licensed?” It is good to do your homework with any type of transaction and especially selling. This is so you know you are dealing with experienced buyers

At Jumbo Gold & Diamonds we have 20+ years of experience in the gold industry and the gold market in Singapore. With our stellar reviews, you can rest assure you are getting the best valuation in the market!

2. Educate yourself on the value of the gold you are intending to sell
Here are some things to know on Gold Karat: 10K, 14K, 18K are calculated out of 24 to find out the portions of the refined metal that are pure gold. You can usually find this stamped on your gold jewelry.

You can get FREE valuation of your items from us. We will weigh your gold to confirm its total weigh. Price is usually determined by the price per gram for the karat value. Of course there are other factors when deciding on the price to buy your gold as well. This is for example if item is a luxury brand. Contact us now to to get a free valuation without charge!

Did you know? We take GEMSTONES too!

3. Remember to compare prices
If you have decided to sell your gold, remember to compare prices to ensure you are getting the best price for your item. Compare the offer price you are getting and finally, choose a buyer you are confident and comfortable with.

4. Get proper confirmation from your potential gold buyer.
Once you have decided on who to sell your gold to, remember to get proper confirmation such as a written offer price.

5. Find a reputable jewellers to sell your gold to.
Reputable jewellers are jewellers with formal qualifications that qualify them as appraisers and goldsmiths. At Jumbo Gold & Diamonds, we are GIA & GEM-A TRAINED

6. Is there a best time sell gold?
Gold fluctuates in value and it is hard to estimate whether the price of gold will increase or decrease. This means it is not easy to follow market trend and there is no specific best time to sell gold. The best time to sell gold is when you need cash, or when you feel the price of gold high enough for you to sell them.

7. What types of gold can you sell?
At Jumbo Gold & Diamonds, we take in all types of gold from scrap gold, gold coins, gold watches, gold bars and even brand name jewelry.

8. Before you sell, do check the current spot price for gold.
Spot price is the live price of gold. You will not get the true spot price for your gold but knowing how much your gold is worth before you sell will help you estimate a range for the price you will be getting for your gold.

Selling gold for cash is indeed an effective way to turn your gold jewelry, or unused gold or precious metals into cash. At Jumbo Gold & Diamonds, we offer a high price for your gold in Singapore.

Contact us here to get a free appraisal or book an appointment to have your gold appraised. We are also centrally and conveniently located in the heart of Singapore, at The Central, Clarke Quay.