#MissionCleanGold – Need of the hour

#MissionCleanGold

Gold is getting the attention of the Century, with almost every asset on the list getting a hit, Gold is glittering on the muddy ugly land, a ray of hope for millions of people across the world, helping them encash their saving for the good.

After breaching several records Gold finally moved into the landmark figure of Rs. 5000 per gram. Making every household across the world increase their networth in the quickest possible time ever.

Comes with all the glamour and goodness, some Devil's dime. For centuries gold has been prone to serious adulteration and fraudsters are busy inventing new techniques to make the fastest and dirtiest buck off it.

No surprise that there will be lots of impurities added to the gold and moved into the market for liquidity or even pledging it for an easy 65% - 75% of the valuation and pocket a decent 5 - 25% of margins by these active fraudsters.

For people who trade with gold as buyers & those who loan, to follow a guideline, process & a technology that can help their business avert these fabricated gold jewels, bullion and ingots from buying or pledging them.

A recent survey showed that general public also mixed the non-gold articles or polished and plated gold articles which looks like gold to them, and offered them to buyers. And many buyers fell in prey to the glitter and bought fake jewellery and booked losses, when the fact is. That its the time to build fair profits by giving a fair deal to the customers.

Another study also revealed that some buyers are hesitant to buy due to the fear of getting losses due to incorrect estimation or over valuation. There's no bad news than turning down an opportunity in these pandemic times and further deteriorating the business.

Gold could be an easy trade, However the threat of impurity and volatility of prices at times, Makes it a risky affair. To deal with this menace of impurity and fraudster, there must be use of technology by the buyers to ensure that they not only protect their business but also create the awareness among the consumers about the quality of their asset.

Post - Covid with Gold breaching the 5k mark, Gold testing machines are now becoming a need rather than a luxury. In past couple of years there has been a lot of buzz word and research and improvement in technology of Gold testing machine, which makes it an ideal package for today's Retail Jewellers, Wholesalers, Manufacturers, Gold buying companies & Jewel loan companies to invest in this Technology for the safety of their business.

Gold has always rescued economy and the public at large, and this time too it has come as a Saviour.

Leave a Comment