Muthoot Gold Point Centre opens first branch in city
An exclusive center to pawn gold ornaments at its best possible price has been set up in the city by Muthoot Pappachan Group, called as the Muthoot Gold Point.
An exclusive center to pawn gold ornaments at its best possible price has been set up in the city by Muthoot Pappachan Group, called as the Muthoot Gold Point. The centre, set up in the Buckingham Post Office road will offer the best price for gold jewelry that is exchanged for money, to enable customer reap maximum benefits for their product as well as to aid government in bringing down the imports of the yellow metal.
Addressing the news reporters here on Wednesday, CEO of the Muthoot Precious Metals Division, Keyur Shah said that the main motive behind Gold Point centre is to ensure that the customer gets a great value for their gold when exchanged. Generally, they take them to the sellers and compare it with showroom prices and settle for the best.
Here, we offer them price for the decimal points of the gold ornament and return any kind of stone item in it. We conduct free evaluation of the ornament and charge two percent of the total amount as fee. However, it is a very fair game and the ornament is melted right in front of the customer, who if wishes not to exchange it, can take it back in melted form.
Muthoot Gold Point has a strategic significant importance, as it aligns with Government’s objectives and supreme priority of keeping Current Account Deficit (CAD) under control, by garnering and channelising domestic unused gold to productive use. According to estimates, gold recycling has not been tapped to its fullest in India and it mostly happens in the unorganised sector, opined executive director of the Muthoot Group, Thomas Muthoot.
Gold Point Centre is also offering basic model gold and silver items which are packed and hallmarked by the government of India for standards. Ornaments ranging from 1.5 grams to 9.5 grams in plain gold are available along with hallmarked silver ware. Andhra Pradesh is the biggest market for gold trade and we hope to expand the centre to Hyderabad, Vishakhapatnam, Rajhamundry and other places in the Telugu State, they added.