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Where to buy gold?

Senior Desi
Member since: Nov 06

Posts: 409

Originally posted by tamilkuravan

Originally posted by mkannuri
Anyway, finally i purchased both coins and bars for the same flat price of $840 which is equivalent to 1135Rs/gm in india (currnetly they are selling the same price)

you are lucky.
Currently Gold is trading at $832 an ounce up $52 just on the day. The reason is the Yemen bombing and the recent credit losses / company bankruptcy in US (So dollar becomes unattractive and it is used to hedge in Gold, sending the price up).
The upswing maynot hold up for many days.
So you can take a gamble by selling your Gold tomorrow morning and then heading to India and buying Gold from there. Hopefully it will be of less price in India once you reach there by sept. end.

That is a good idea if i have really 10 to 15 coins...but i bought only 2 coins as per advises from wellwishers assuming that i will touch 720 or 700 mark.
Now if i sell..may be i get 100$ i will keep it as i am not sure weather it will really touch back the 740 mark again.
anyway's thank you so much for the advise and well wishes.


Post ID: 128377 17-09-08 12:45:51
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Senior Desi
Member since: Aug 06

Posts: 5286
Location: Canada

Can someone recommend any good place to buy gold at (besides Scotiabank) ? - any experienced desi / non desi jewelers ?

Post ID: 130784 24-10-08 10:14:33
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Senior Desi
Member since: Dec 06

Posts: 275

if you wanna buy gold only for investment purpose, then why dont you look at on of those Gold ETFs. "GLD" is one such etf I made some money off some time ago.


Last edited by: rsk12 on 24-10-08 13:55:13
Post ID: 130817 24-10-08 13:54:17
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Member since: Aug 06

Posts: 65

Buying gold
Hi folks,
I am planning to visit India in Dec and carry some gold (bar form) from here , I have a doubt as to we are niot allowed to carry gold in other form bur jewelery.
Can some one share their personal exp on this

Post ID: 130893 26-10-08 11:21:35
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Senior Desi
Member since: Jul 06

Posts: 2335

Originally posted by 3m

Hi folks,
I am planning to visit India in Dec and carry some gold (bar form) from here , I have a doubt as to we are not allowed to carry gold in other form bur jewelery.
Can some one share their personal exp on this

This is for your information and use it at your own risk.

The last known baggage rules that I can fish out of the web site and the Custom tariff says " You are allowed free of customs tariffs a quantity of 10 Kilos" of Gold free together with your baggage. Air lines permit you to carry upto 7 kgs. (Seven) free as hand baggage, on person. Have proper bill of sale and receipts etc., on person when you carry such items with you. {Updated in September 2008.}

Vide 7108 1100

71081100 Powder 01-Mar-2008
Customs Basic Duty: 10
Basic Duty Pref:
Addl Duty(CVD): 0
Spl Addl Duty(Spl.CVD): 0
Excise Cess
Customs Cess 3
Customs Duty Calculator
kg Free
HS Code Note
Import Policy Notes


Government of India Embassy web site says that you are allowed a maximum of FIVE Kgs of Gold free, on person. I would treat this as the current one and be guided accordingly. Please make sure that you have the bills and invoices for the purchase and if paid by Credit Card, then the receipt to go with it.

Have a Safe Trip.


P.S. On Friday the 24th, I placed an order for Gold at $700 US per ounce and there were no sellers. The price hit $680 for a brief period and no fills for that order. Everyone is holding their position?! It is finding hard to go above $740 now and is encountering a lot of resistance. That means people are buying as much as they are unloading into the market at that price. (F)

Post ID: 130936 27-10-08 11:16:58
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