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Is it worth to invest in gold now?

Discussion in 'Money Matters' started by Yahooo, Jun 21, 2013.

  1. Yahooo

    Yahooo Silver IL'ite

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    I am planning to buy some gold at this time. Now the price of a gram is 20500. Will this remain the same or will the prices go up or come down? I bought some gold a few months back for 22000. I still hope that I will not be at loss hoping that the gold prices will go up:( Just want to know the real scenario. I heard that the US economy is picking up, so gold prices will go flat. Is it true?
     
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  2. internet

    internet Silver IL'ite

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    from which place did you buy gold at the price of 2050 per gram? As far as I know in India it is 2600 or 2700 per gram for 22 ct.
     
  3. Yahooo

    Yahooo Silver IL'ite

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    Sorry price of one sovereign(pavan) was 22000. It was a typo.
     
  4. kalaivenkat

    kalaivenkat Junior IL'ite

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    if it is for investment, then there is no hurry to buy gold, gold's bull run seems to be over and this bear phase will continue for a few years with ups and downs but we will not see the highs of the past years anytime soon, as you said, with signs of u.s recovery, hot money will flow back there. prices could recover just before festival season, so if you buy now you could sell it then for a small profit. if your perspective is 10yrs down the line, then you can buy anytime.
     
  5. Yahooo

    Yahooo Silver IL'ite

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    Kalai, so few years down the line gold prices will increase? No, not for investment. I like to buy gold,that's all but I am worried if it will be loss as everyday gold prices are going down.even today 32 rupees per gram went down.
     
  6. kalaivenkat

    kalaivenkat Junior IL'ite

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    yes the prices will increase but it will take some time. if you have physical gold which you will be retaining for years, then you don't need to worry about this cyclical ups and downs. this coming week will show us if the current support levels will hold or not.
     
  7. uma321

    uma321 Platinum IL'ite

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    Yahoo,

    I don't think gold investment is a wise idea right now. It cannot be a long term investment either unless you want to buy in jewels. RBI imposed additional restrictions in gold investment as well.
     
  8. tashidelek2002

    tashidelek2002 IL Hall of Fame

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    There is no world shortage of gold so price is not supported by scarcity. Recent gold run was due to hysteria from the recession and that is lessening. I remember many years ago during another recession and gold zoomed to $1000 an ounce, everyone was buying and then fell quickly to $350 an ounce. Lots of moaning then.
     
  9. Mahajanpragati

    Mahajanpragati Platinum IL'ite

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    well my answer may seem out of context but still i can't resist.its something i always wonder......

    if one is buying gold for jewellary purpose & have no intention of selling it then it should not matter what price we buy it.still it hurts to think that we feel we bought it at high price & now we have lost money.

    but we buy a costly saree of say Rs 10000 & may wear it for 4-5 times & them it stays like that in cupboard.we are sort of losing money.

    we go to see 1st come 1st show at premium cost wheras the next week itself we can see same movie on CD.

    or we wait for book by fav author & want to immediately read it so we buy at high cost wheras the next year it will be on shelf of library almost can be read for free.

    people bought gold when it was at highest when the need demanded it like marriage sonow it should not matter if we end up losing few couple of thousands but it still rackles.I wonder why?
     
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  10. nemesis

    nemesis Platinum IL'ite

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    Sort of mass hysteria.
     

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