Ques on Investing in Gold.

Discussion in 'Money Matters' started by ManuuRaghuu, Mar 12, 2008.

  1. ManuuRaghuu

    ManuuRaghuu Senior IL'ite

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    Hello Ilites,

    I have some questions on investing in gold.Can any one of you kindly give me the information.

    1.Which is a better place to buy gold in USA?- organizations like Monex / banks or Indian jewellery shops.

    2. Which is a better form for investment? - gold coins/ gold biscuits.

    Thanks in advance,

    ManuuRaghuu
     
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  2. vkrithika1

    vkrithika1 Gold IL'ite

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    hi Mannu,

    I feel this is not the right time to buy gold because of the soaring gold prices.Investing in good would be beneficial only when we buy gold at cheap prices.

    The quality offered by the banks are always the best.You can at any time convert into ornaments without any loss.

    If you buy gold from the jewellery shops,then you cannot exchange or sell it in other shops at the same price.You have to go to the same shop.

    I do have the habit of collecting gold coins.But buy coins only from the shop
    (GRT)at chennai.Since we have been buying there for more than 20 years, we will not go to other shops for ornaments.This would reduce my cost even.
     
  3. shravanthika

    shravanthika Senior IL'ite

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    I have always had the query of buying gold coins,bars in US since my arrival here...but did not have a proper guidance...so..if we want to buy...where should only shop around...any tips ,suggestions?
     
  4. Nandshyam

    Nandshyam IL Hall of Fame

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    aabushan is a best place in NJ. also you can enquire your bank about it. Some might be doing this as well!!

    As someone earlier suggested here, right now buying them is not a very good idea though!!

    Nand
     
  5. pammor

    pammor Senior IL'ite

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    Hello to all Gold investors......!!!

    Gold will be and is a hot cake investment.It is always better to hold in the form of coins or bars.There are Gold coins available in Banks and now all most all banks hav their own outlets.Never mix up jwellary and Gold investment.When u handover a coin to a jweller there is no surity that he will make your jwells in your coin.Best is to trade and make profit when the price is high and in the profit u can buy jwells
    In Thirumala Thirupathi temple Gold coins are available with Lord Vekateshwara embossed in it.But the price is little bit high.It is a known fact that Lord Venkateshwara is a bit costly in every fact.Harhar
    Pammor.
     
  6. shravanthika

    shravanthika Senior IL'ite

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    Thanks for the info...
    Im not into buying...at this moment...

    But wanted to have the details handy...when the time pops in...
     
  7. pebblebeach

    pebblebeach Senior IL'ite

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    But when we buy gold from a bank we need to pay the tax also. If we buy from Indian shops we don't have to. Is that right.
     
  8. shravanthika

    shravanthika Senior IL'ite

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    Oh...thats news to me.....
     
  9. Nandshyam

    Nandshyam IL Hall of Fame

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    sales tax??/ yes.. thats for everything.. not just Gold... Indians .... help ya out.. if you pay in cash and also with no sales tax ;)
     
  10. manjulats

    manjulats Silver IL'ite

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    I have got gold bars from Aabhushan NJ Couple of years back,but just trying to find out where in online can we buy from reputed dealers.

    Someone suggested ajpm.com.Banks we have to pay sales tax.Where else?
     

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