Hello CD's,
As the investment fever catches up, even I am not immune to it.
I am wondering as to how I can dispose off around 1.5KG (1500 grammes approx) of Gold ornaments. I am planning to take advantage of the high value of Gold and probably invest in a flat on the outskirts of Chennai.
The Gold is located in India and hence I am looking mainly at institutions that will buy it in India. I can even accept Canada or the Gulf locaions (Like UAE, Oman etc.. where I can land using my Canadian passport, dispose the Gold and bring back the currency - all through applicable legal means).
I asked my dad to enquire about this in the Gold shops of Tamil Nadu. Though most of our Gold Ornamants are very high quality ones (KDM Grade, Froom Malaysia/SA/Gulf), they are not willing to give any money for it. The only alternative that they are giving is that they will allow us to buy new ornaments in lieu of the old ornaments + pay for the making charges as well as wasteage.
is there any legal means to dispose the Gold Ornaments off. I am not looking at the current market price but at a nominal disount.
CD's views would be very highly appriciated.

Peace by a PD

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I am a Gents and not a Ladies.

You can sell your gold jewellery in exchange for Gold biscuits and then sell them off for $$/Rupees. People give cash for gold coins /bullion etc ....

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We will find a way or we will make one

Hi TK,

UAE based jewellers will buy gold and give you either gold coins or Indian Rupee / UAE Dhs.

Alukkas jewellers are in chennai, kerala, Abudhabi, Dubai.

If i remember right, Joy alukkas is in Madurai too. Their shops are located in UAE too.

You can tell your parents to check with them in madurai.