RE:investment in gold
by Phul Jain on Aug 08, 2008 08:06 PM Permalink
the banks will buy back these gold coins ... for coins specifically, buy only certified ones ..... personally, i beleive ETF's in stock markets are better options since who wants to take the of storing the coins in bank lockers and safe's .... take ur pick ...all are good options sir
RE:investment in gold
by Ramakoteswara T on Aug 09, 2008 12:04 AM Permalink
Did you check with any bank? They say "We sell" and "We dont buy back from customers"...you have to sell it to outside jewellery shops. Read some article on 'equitymaster.com' on why buying gold coins from banks is a utter waste from price perspective. Insted you can buy similar coins from a 'Noted Jeweller' in city who will give Gold council certificate also and you can exchange at similar places when the rate is high.
RE:investment in gold
by Roshan on Aug 09, 2008 06:47 AM Permalink
Bank charge high premiums and only Sell. They don't buy back. You have to sell it to Jewellers and will get less money unless the Gold rate is up by 20% from your purchase price.
RE:investment in gold
by sash nair on Aug 17, 2008 08:28 PM Permalink
If u are looking to buy gold for invst purpose its always better to buy it in demat form thru etf's. buying gold in physical form thru coins and bar attract VAT or sales tax. So u end up paying around 12% higher on the prevailing gold prices.
