Muscat: Malabar Gold & Diamonds has launched a campaign to buy back old gold jewellery, regardless of where it has been purchased from.
Customers will be offered the best rate in the market by giving maximum value for old gold purchased from other retailers. As part of Malabar Promise, the brand offers cash buy back facility for jewellery purchased from any of its outlets across GCC, Far East, USA and India. However, this announcement to accept cash purchase of old gold jewellery from other retailers comes amidst many jewellery retailers hesitating to buy back the gold jewellery they have sold in the past, despite promising customers cash buyback facility.
Gold being a reliable investment is one of the intrinsic reasons for people buying gold jewellery while also serving as an adornment. It is the ease to liquidate the metal for cash without losing much value during these difficult times that further increases its dependability.
‘We’ve been receiving buyback requests from our customers as well as others who have purchased gold jewellery from other retailers, which led to our decision to accept this cash purchase of old gold jewellery purchased from anywhere for a limited period. We will ensure that the customer receives maximum value for their old gold and the amount will be provided to the customer immediately while adhering to the local laws," said Najeeb K, Regional Head – Oman, Malabar Gold & Diamonds
Gold has always been a haven asset and had further proved its trustworthiness by strengthening its position even during this global pandemic situation. While all other assets like currency, oil, stock markets, real estate etc. have steeply declined in value, gold has appreciated 30-35% in the last year.
This consistent performance of gold as an appreciating and moveable asset has led to individuals with excess cash reserves beginning to acquire gold. Being the only investment to offer all these benefits, while also being a prestigious lifestyle article, gold jewellery is expected to attract new buyers in the immediate future.
This buyback of old gold jewellery purchased from other jewellery retailers will be available for a limited period until 30th September 2020 at select stores of Malabar Gold & Diamonds. However, cash buyback for jewellery sold by Malabar Gold & Diamonds will continue without any restriction. Customers can avail cash buyback for their old gold jewellery at the following Malabar Gold & Diamonds stores in Oman.