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Gold rate in 2012?

Discussion in 'Money Matters' started by satin, Jan 29, 2012.

  1. satin

    satin Silver IL'ite

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    Hi all,

    I am planning to purchase some jewels for me and yes the price is way too high,will be happy even if reduces a litle,I am sure many read articles related to economy,any idea about gold rate this year,will it come down,or no way its coming down in the future,even if it will happen a year later I can purchase some now and others later.Need you input.Thanks.
     
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  2. rkgurbani

    rkgurbani IL Hall of Fame

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    Gold rates are pretty high these days. There is no fixed prediction as such. Some days it just drops a bit just to see it rise again after a short duration.

    We normally buy gold when its off-season...meaning not during festive days and marriage season. It is always an investment no matter at whatever rate we buy it.
     
  3. sundaribhaskar

    sundaribhaskar Bronze IL'ite

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    Hi,

    we normally buy gold as jewels, so this investment has to be considered as locked investment unless we sell it at a later date which is not so common. so people keep looking for times when it is low. Please feel sad when they realise that immediately within few days of purchase the prices falls by say 25rs or 50rs per gm and had they got 1 sovereign they would have marginally lost overall 400rs which i feel they must neglect considering the fact that they liked the jewel, the quality and purity and overall satisfaction.

    thanks

    sundari bhaskar
     
  4. dakshayaeni

    dakshayaeni Silver IL'ite

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    The problem is whenever we buy prices will be higher than the last time. God knows why? In Dubai if you get gold @ 18000 per kg in India it will be 27000 per kg! imagine the difference.

    Nowadays, i can only buy after I save sufficiently and honestly speaking the weights of ornaments are getting smaller while we have to pay the price for a much larger amount, i really feel its unjust and there are some scrupulous reasons for such a rise in rates on a YOY basis.

    One may try to invest in monthly deposit schemes with any reputed jewelery and at the end of the year may need to pay some additional to buy a piece of ornament. In the next year Gold rates may not come down but may hover around 30000 per kg, at least stabilize.
     
  5. Sanguineme

    Sanguineme Silver IL'ite

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    Yes there will be no price decrease further. When it comes to investing in gold, gold jewelery is a better option. By this you can enjoy wearing the jewels for sometime. When there is a need for money you can either pledge or sell them. Gold ETF (Gold Exchange Traded Funds) can also be considered. These are similar to the Mutual finds, your money would be invested in Gold and you can sell it at any time. This will also provide liquidity as you can easily sell them off in the exchanges.
     
  6. sushmavja

    sushmavja Platinum IL'ite

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    dakshayaeni,
    in dubai its not so less..when i compare with India there is hardly 400-500 Rs difference per 10 gms..the quality is good..that is another point though
     
  7. dakshayaeni

    dakshayaeni Silver IL'ite

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    Oh Ok its a learning for me that gold rates in dubai is not so less. One of my friend keeps on asking my husband to buy in bulk and enter with him into his import gold business. We were under the impression that its almost 6000 rs difference. Thanks sooo much now I will tell Marque the friend, wait and see...

    But none the less, with this new import duty in India, God rates again will be higher than in Dubai from Feb 2012, if I am not too mistaken, this way the GOI is expected to mop up some XXX thousand crores. The problem with us is we know gold is an investment but when it somes to put it to use, say to start any venture up or to support our lean times we seldom take steps to liquidate gold. As this is taken as you know selling 'laxmi'. We hoard Gold which is OK but in the gold market a very small percentage of that gold is circulated. And you are right, I have seen some rings in gold from Dubai the color and texture of the rings are somewhat diff than what I usually see here.
     

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