Entering ChinaRecently, as the international gold price has been rising, some gold buyers have taken profits, and the gold repurchase market has become lively. At present, the gold repurchase channels mainly include branded gold stores, banks, pawn shops, etc. How do these buyback channels differ? How can consumers ensure maximum returns? A few days ago, the reporter conducted an interview on this.
Major banks have strengthened their gold repurchase business
“After the Lunar New Year, I gave out 200 grams of gold and invested the money in the stock market.” For many years, Mr. Gong, a citizen, has insisted on buying gold bars at the bank after the Chinese New Year, but this year he chose to sell some of them, “mainly because the gold price has been more attractive recently.” ”
As gold prices hit new highs, a number of banks have launched or strengthened their gold buyback operations to meet consumers’ growing demand for gold realisation. A few days ago, the WeChat public account of “Agricultural Bank of China Cloud Customer Service” released a tweet of “Gold Repurchase Strategy”. The tweet said that the Agricultural Bank of China has opened nearly 3,000 gold repurchase outlets across the country to provide customers with convenient gold trading channels and services. The scope of gold repurchase includes gold products sold by the Agricultural Bank of China and equipped with repurchase certificates, provided that the packaging is intact and the purchased transaction vouchers and other materials are complete.
During the interview, the reporter found that most banks’ repurchases were only for gold bars sold by the bank. Unlike other banks, ICBC has upgraded its gold repurchase business and launched a “non-ICBC brand gold bar ICBC collection” buyback business, which buys back Au99.99 gold bars from 14 commercial banks and 2 gold enterprises in addition to the gold products it sells.
On February 25, the reporter inquired about the physical price of gold in a number of banks and found that the price of gold bars with different gram weights had exceeded 700 yuan/gram, and the gap between the recycling price and the physical price was about 20 yuan/gram.
Branded gold stores are more redeemed than repurchased
In addition to bank outlets, monetization channels such as branded gold stores have also attracted widespread attention, such as Chow Tai Fook’s repurchase and realisation business in some stores.
Unlike most banks that only buy back their own brand of gold bars, most brand gold stores only support trade-in, and the trade-in needs to increase the purchase ratio on the original basis. A salesperson at a gold counter said: “The old gold exchange does not look at the brand, as long as the purity meets the standard, but the gold price should be increased by 30% according to the gold price on the day.” This means that in exchange for a 10-gram gold ornament, the consumer can bring 7 grams of old gold and pay for the excess weight of the gold on that day.
“I consulted before that the exchange only needs to increase by 20%, and now the gold price is ‘soaring’, and the exchange ratio has also increased.” On the same day, Ms. Zuo, a citizen, exchanged her old jewelry for more than 30 grams of gold jewelry, and she told reporters: “This is for her son’s marriage.” I used more than 20 grams of old jewelry, and the remaining 10 grams cost more than 10,000 yuan. I did the math, and with the labor costs, the price of gold jewelry exceeded 1,000 yuan per gram. ”
During the interview, the reporter found that some brand gold stores can directly repurchase gold, but compared with the sales price of gold bars of the same brand, there is a price difference of about 100 yuan/gram.
Other channels can be monetized quickly
In addition to the above two channels for gold repurchase, non-brand gold stores are also one of the channels for repurchase.
The reporter found that almost all pawn consignment houses have opened a business to buy back gold. A boss said frankly: “We don’t have high requirements for vouchers, but we only repurchase pure gold, and the price fluctuates every day, which is basically the basic gold price of the day minus a handling fee of 10 yuan/gram.” Because the price of gold is floating fast now, we will not stock up on the day of receipt. ”
In addition, online gold repurchase platforms have also gradually emerged, with JD.com and Alipay opening online gold repurchase platforms. The advantage of an online gold buyback platform is its high ease of operation and transaction transparency, customers can complete the entire buyback process from home, but pay attention to choosing a reputable platform to ensure the security of the transaction. However, the service fee of the online platform is relatively high, taking a platform as an example, the service fee for repurchasing gold jewelry is 2.4% of the gold price, and the service fee for repurchasing gold jewelry is 16 yuan/gram according to the real-time gold price of 686 yuan/gram on February 25.
Industry experts remind the public that there are many gold recycling channels in the market, and it is recommended to choose large-scale and formal channels to monetize to ensure the safety of assets.
