Right time to invest in gold?

[experience]

if yes, then is it ok if I buy from my bank directly? any pros/cons of buying from bank rather than from shop?
Regards

 

[Kunal Roy]

if yes, then is it ok if I buy from my bank directly? any pros/cons of buying from bank rather than from shop?
Regards

If I'm correct, gold bought from a bank cannot be resold.

 

[experience]

If I'm correct, gold bought from a bank cannot be resold.

:numbness: ye kya baat kardi.

 

[Kunal Roy]

:numbness: ye kya baat kardi.

Lol.
I could be wrong.

 

[Sushubh]

Assuming you just want to trade, I guess banks are the way to go? You cannot trade gold purchased from shops?
I do believe banks sell gold bars. Like real gold bars that can be purchased like you would in a shop.
Trading in commodities is sort of different where you buy stuff virtually?

 

[experience]

Like I'll buy at the current rate now and sell after a year.
What are the pros/cons of buying from bank/shop?

 

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[Sushubh]

Well. This is where you are probably going to miss toocool. I am not sure we have any traders left on the forum.

 

[genie]

RBI does not allow banks to buy back the gold so you have to sell to jewelers and goldsmiths at the price they agree to....or con some relatives/friends to buy it.

 

[experience]

RBI does not allow banks to buy back the gold so you have to sell to jewelers and goldsmiths at the price they agree to....or con some relatives/friends to buy it.

Oh, so I guess they wont buy gold bars @ current (after 1 year) market price?

Well. This is where you are probably going to miss toocool. I am not sure we have any traders left on the forum.

I hate you for banning him :sarcastic:

 

[Sushubh]

well he has/had the option to come back with a new id. or just tell me to reactivate his account. it's not like i am offended or anything like that. i just want him to stop being annoying like i am some big brother.

 

[genie]

Oh, so I guess they wont buy gold bars @ current (after 1 year) market price?

RBI does not allow banks to buy back because the banks are not a trading company but I suppose if lot of people were buying gold from banks they could always trade under a different entity like they do for the stock market trading.

 

[Sushubh]

Well you can always find a friendly neighborhood jewellery wala. :

 

[Deleted member 7160]

Considering you are planning to buy gold as an investment purpose, Why don't you buy E-Gold? Which you can always sell at the current market price. It removes the headaches of safety and charges (Considering you would be keeping the gold in bank locker).
There are lots of mutual fund companies which provides this such as Reliance
http://www.reliancemutual.com/OurSchemes/SchemeDetails.aspx?Id=367

 

[manu1991]

E Gold? Do you mean gold ETF's?

 

[Deleted member 7160]

Yup!