From a reselling perspective - Does it make more sense to buy gold bar from Scotia / Kitco or Toronto Gold Bullion (the Yonge St store which price matches Kitco) ?

If I buy from Kitco today and tomorrow wish to sell it back - what is my best option ?

I think if the CAD goes down with oil , its best to hoard in Gold .

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Fido.

what does this mean .... you get less money or more?

Quote:

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Originally posted by peacock1

Hi Friends,
Just wanted to draw the attention of the CD friends on the fact , that when you try to sell your bars /coins to the bank, they do deduct the bar/coin making (casting) charges, from the quoted spot price, which is varying for different size/wt of the bars and coins.
And this information is not easily available to you.

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Quote:

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Originally posted by Fido

I think if the CAD goes down with oil , its best to hoard in Gold .

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I am thinking to buy gold and just talked to Scotiabank.

If we buy from Scotiabank:
1 OZ gold price is USD 1299 + $10 Fees = USD 1309 = 1397 CAD (1 USD = 1.06 CAD)

If we sell to Scotiabank:
1 OZ gold price is USD 1264 - $10 Fees = USD 1254 = 1329 CAD (1 USD = 1.06 CAD)

Buying and Selling right away is loss of CAD 68.

Do you think it is worth to buy gold for an investment and long term? (I see $68 difference is too much)

What do you think?

Any other alternative?

What is the benefit of gold certificate? Do you think certificate is better than physical gold for long term investment purpose? if yes, how?

When we sell gold to scotiabank, they generate T5 and report to CRA. I believe they report the gain or loss in T5 on base of original receipt. Am I right?

Can we buy physical gold / gold certificate under TFSA or RRSP account? If yes, how can we link the physical gold and TFSA account?

Any idea about how much gold (GOLD BAR) we can take to India without any duty?

Thanks in advance

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Success is Never Ending and Failure is Never Final.

An investment advisor (really a joker) with handlebar “Ashedfc” was active on CD and was recommending and urging people to buy Gold when it was around $1,800. Since the prices collapsed, he has vanished. Lol!

I guess the prices will cool down to $850 in a year’s time. However, a reasonable amount of Gold is always a good investment. I do not have much savings but still I intend to invest roughly $5,000 over next couple of years. I would buy around $1,100 price as Gold may not go down to $850.

I am too old. Young and unmarried guys have a better option. Marry a girl from ndia. These days dowry is minimum 1 kg Gold for NRI.

One of the best and readable post by Nightmare.
He should post more posts like this instead of cursing the Cangress and glorifying the BJP

Peace by Murali

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I am a Gents and not a Ladies.

Thanks Guys.

I am still interesting to know the detail and hoping some experience guys will answer my questions above.

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Success is Never Ending and Failure is Never Final.