Your wife/inlaws must have told you this ,right? Investment in gold is always good atleast in India as Indian women are most obsessed with gold than any other thing.so it will be always in demand.I doubt whether some single place exist here to purchase 'best' gold.Many families have their goldsmiths for years.Some enterprises like Tanishq(by Tata),OysterBay have comeup.They are little costlier than your Saraf street goldsmith but quality of gold they give is supposed to be better than many.
Namma Suvarna Karnataka
Joined: Jul 01, 2004
I was looking for coins or certificates as an investment....
The price of gold now is about the same as it was 25 years ago. It sure is volatile and if you think you can make money trading it short term, or expect a major war or hyperinflation in the near future, it may pay off. Otherwise, you are better off keeping your money in a checking account at 0.25% interest. [ January 18, 2006: Message edited by: John Smith ]
comex gold close of yesterday 554 so conversion for those interested :
1 oncz = 3.11 kg I dollar =44.11 rupees so its pure value is for 1 kg contract of gold .995 = [ (554) /3.11 ] * 44.11 = 7857.53 but reality says different its currently 8006 so just for our study multiply it to get a good approximation The cost of carry would be 8006 / 7857.53 =1.018895 .
So comex u just multiply the value by 14.451
So u can plan next days trade to some realistic estimation .
you are better off keeping your money in a checking account at 0.25% interest.
With 'real' inflation somewhere between 5% - 7% in the US, you would only be losing more than a nickel on every dollar each and every year. At that rate in twelve years or less the first years' dollars no longer exist!
If you have a sincere interest in buying metals or any other security, then you must do something called "dollar cost average". Figure how many dollars/rupees/yen or whatever, you can afford to put aside a consistent amount each and every month on the same day each month over the remainder of your productive life. You will miss some highs in the market this way, but more importantly, you will miss some lows as well. Thus the the name "Dollar Cost Averaging". Over the long-haul you should best inflation as it is built into the process.
That is, unless you already have excess amounts of cash at your disposal, allowing you to speculate in the futures markets or the craps table. [ January 22, 2006: Message edited by: Donald R. Cossitt ]