Hi!

What are the various options in investing in gold?

1) Is it better to buy from Scotiabank or Kitko?

2) Has anybody purchased from either and give us an idea??

3) What about storing that gold in the locker? Is it safe??

Should we take this to India? Will it be safe their?

4) what about the EFT option?

5) Has anybody invested in gold EFT?? Is it really safe?

or just paper??



How do we benefit with the anticipate rise and rise on gold?

My prediction is that Dec 2012, gold will touch $3000 an ounce?

It depends on the purpose for which you want to buy. If you want to buy for marriage (take india) than its a best option to buy physical gold and store it in a bank locker. You can take some amount of gold to india without paying any duty.

If you want to make money out of it, than buy a gold certificates from http://www.scotiamocatta.com/

the minimum qty is 10 oz and they ask for US dollars. So you have to pay/gain CAD-USD diffrence too.

I did this transaction once and i earned some money a year back.


I donot know about other options like kitco - ETF etc. I leave it for other desis to post something about it and increase our knowledge too.

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એક જ ટીપામાં હો જાણે સાત સમંદર,
એવા ઝંઝાવાત હજુ હૈયાની અંદર

How does one sell and buy? Can I buy and sell it over the internet like a stock?

How long does the transaction take ?

Quote:

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Originally posted by love_n_peace

It depends on the purpose for which you want to buy. If you want to buy for marriage (take india) than its a best option to buy physical gold and store it in a bank locker. You can take some amount of gold to india without paying any duty.

If you want to make money out of it, than buy a gold certificates from http://www.scotiamocatta.com/

the minimum qty is 10 oz and they ask for US dollars. So you have to pay/gain CAD-USD diffrence too.

I did this transaction once and i earned some money a year back.


I donot know about other options like kitco - ETF etc. I leave it for other desis to post something about it and increase our knowledge too.

---

Ok this is what you do. Go to scotia bank (any branch) with certified check of USD 17000, SIN no. Two piece of ID and tell them you want to buy gold certificates for 10oz gold. They will contact scotia macotta and let you know the current price. If you agree on that price, they will take your cheque and buy that certificate for you. They will pay you diffrence if there is additinal money in your certified cheque. The certificate will arrive in 4-5 days later @branch. you have to go and pick it up.

The branches are not interested in doing these transactions, because its a lot of work and probably they do not get anything, so they will direct you to the downtown macotta office. But you have to insist and stick that you want to do the transaction in the branch and tell them my lots of friends are doing these.

Many of the branch staff do not know that the branch can do these. So if they tell you so, try to speak with branch manager.

You have to stick that you want to do the branch transaction. You save parking charges in downtown and also save time of driving in narrow streets of downtown. If you want to know fees call 1-800-263-3430

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એક જ ટીપામાં હો જાણે સાત સમંદર,
એવા ઝંઝાવાત હજુ હૈયાની અંદર

Any reason why you did not search the topic in 'charcha' ?

Please read the following threads which are already there and dicuss this .

http://canadiandesi.com/read.php?TID=27832
http://canadiandesi.com/read.php?TID=21650
http://canadiandesi.com/read.php?TID=25751
http://canadiandesi.com/read.php?TID=28979
http://canadiandesi.com/read.php?TID=24234

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Fido.

Ash,
What do you think about Central fund of Canada. ( CEF). Also, I had invested some money in Claymore Gold ETF. Please advise your thoughts on these two.

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Driller the thriller

Planning to trade Gold in RRSP this year. Want to do it in certificate form instead of ETF or mutual funds.

Scotia mocatta is ruled out since my investment will be less than 10K $. Questrade sound good with their 20$/trade unlimited gold. But the difference in buy and sell price doesn't look attractive. Gold price should went up by atleast 50$ than my buy price to make some profit.

For certificates, I think the buy and sell prices are same. Only transaction charge is extra. Did anyone tried this before? Looking for suggestion on a good bank or brokerage account that will let me trade gold certificate. Later i may convert (sell certificate) it to stocks/funds..