Need Advice on Buying Gold Jewellery in Mississauga
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To Fellow CD's:
I plan to buy some 22 CT gold jewellery in Mississauga. Would request for advice on whether it is worth buying here in comparison to India?
In Chennai the price of 22 CT gold is Rs.742 per gram. When you buy an ornament they typically add 16% as wastage and also charge around Rs.500 on making charges.
How does it work here in Canada. Should I buy the 24 CT gold from Scotia Bank and take it India and convert it to ornament ? Is there an price advantage buying 24 CT gold here in Canada?
Which are genuine gold jewellery shops in and around Mississauga?
Your responses most welcome.
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Speech by Thomas Friedman of The New York Times....
"When we were young kids growing up in America, we were told to eat our
vegetables at dinner and not leave them. Mothers said, 'think of the
starving children in India and finish the dinner.' And now I tell my
children: 'Finish your maths homework. Think of the children in India
who would make you starve, if you don't.'"
Location: God's own country
Posted on: 20-01-06 11:51:26
Dear Sankaracharya!
Hello!
As far as i know , buying Gold in Mississauga /Canada is waste since they charge exhobirant making charges. So i would not advise you to buy gold ornaments here.
The best best would be will be when you transit at singapore or malaysia (i am not sure about dubai even though they say that dubai is a shopping haven for gold). In Malaysia or Singapore , always try the shops which are closing down. YOu get good deals there and there is no making charge + the gold is pure.
Recently when i went to TN i exchanged my Malaysia gold for indian ornaments. How it worked was like this. He sees the purity by computer and he gives the market price value (not in cash). He excludes wastage ( and not making charge). Then for the ornament that you choose he adds the market price of gold + wastage + making charges. We found it a good way to exchange our old outdated ornaments for new ones. they also gave us a silver coin for each 5000 rs. that we paid in cash. We did this on dec. 28 and the price of gold then was rs. 700.
To conclude, It is a WASTE to buy Gold of any sort (24 ct. coins, ornaments etc..) here in canada. DO your shopping in the gulf or SE asia (Thailand is also a good place to get gold). If you need further info. PM me or better call me (after 9:00 pm on all days since i work 7 days a week) . I think that i am a bit of an expert in this.
Thanks for going through this post.
TK
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I am a Gents and not a Ladies.
Hi ,
I wud like 2 know how good it will be 2 sell gold in Canada . Do they also charge the wastage and any other hiddesn charges. Asking this as I can buy some gold from Gulf and keep it as an investment 2 b liquidated at need in Canada .......... Can it be done smoothly??
Manasvi.
........BOUNCE.........
Manasvi
Location: God's own country
Posted on: 08-02-06 16:37:25
To Sankaracharya,
Have you decided if to buy Gold in Canada. If so can you tell us about the best Gold Orament shops that you know in Mississauga?
The reason why i am asking is that i plan to buy some gold oranaments for my infant daugher and i need to know the best shop.
The only Gold ornament shop that i know is near Kennedy subway station. Just go out and walk up and down the bridge (road). This will lead you to Balasingham Money Transfer shop on the left. They did have some collection though i did not enquire about the price. Please note that this is a Sri lankan Tamil store.
Do any of the North Indian guys know of any good Gold Oranament stores in Mississauga? If so please shar with us.
In my opinion, I am sure that Chandresh (One of the Moderators) would also be able to guide us on this on selecting the right shop and choice.
I once did buy a 22 ct. gold bracelet at an iranian shop at younge (midway between steels and finch) but i bought it as a gift and did not care for the price. He told me $120 and i asked him for $100 and he gave it to me ( i am not sure of the grams involved in it). He had a ssmall collection and i had to buy it since i was in a haste.
There are also Gold Oranament shops at Albion-Islington , run by north indians but i have not been into any of those shops.
Thanks
TK
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I am a Gents and not a Ladies.
TK,
I've decided not to buy gold in Canada. I plan to buy it either at Dubai/Muscat enroute to India.
-----------------------------------------------------------------
Speech by Thomas Friedman of The New York Times....
"When we were young kids growing up in America, we were told to eat our
vegetables at dinner and not leave them. Mothers said, 'think of the
starving children in India and finish the dinner.' And now I tell my
children: 'Finish your maths homework. Think of the children in India
who would make you starve, if you don't.'"
Quote:
Orginally posted by shankaracharya
I plan to buy some 22 CT gold jewellery in Mississauga. Would request for advice on whether it is worth buying here in comparison to India?
In Chennai the price of 22 CT gold is Rs.742 per gram. When you buy an ornament they typically add 16% as wastage and also charge around Rs.500 on making charges.
How does it work here in Canada. Should I buy the 24 CT gold from Scotia Bank and take it India and convert it to ornament ? Is there an price advantage buying 24 CT gold here in Canada?
Which are genuine gold jewellery shops in and around Mississauga?
Your responses most welcome.
I live in OH USA, but usually visit GTA and we do shop at Gerrad ST in Toronto. and we found a good shop for 22k jewellery. My last purchase was during llast week of Nov '05. (during US Thanksgiving weekend).
Here is the address of the store on Gerrard ST
RANA GEMS, 1511 Gerrard ST East, Toronto, ON M4L 2A4
Ph. 416-466-7644
At this store another trader (very famous in NJ, USA) known as
"ABSON IMPORTS" comes and puts up his items for sale "only on weekends" and NOT all weekends, but alternate weekends.
call them to find out when they are open etc and when the Abson Import guy is coming over there.
in New Jersey, USA. US also the Abson Imports store is open on Weekends ( alternate weekends).
Here is a website link http://www.absonimports.com/
We have bought several items form this particular trader and the quality and service is really good.
prices are very competetive.
Our experience on 22k/24k jewellery is if we buy here, the item is genuine and you get pure 22k gold with it.
In India if you buy the KDM gold then you are guranteed of pure 22k.
else you end up getting 19k-20k with all normal /abnormal losses and with the tricks of the goldsmith.
Even if you take 24k gold from here they will mix it up and net effect you get impure stuff.
In India you have a choice of some good designs, here that is limited
but really they are not bad,
But if you go for items with stones you get real quality stones,and pure 22k gold.
So it is your choice.
Good luck
