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tamilkuravan
Member since: Jun 05

Posts: 5775
Location: God's own country
Post ID: #PID

Posted on: 10-03-15 07:53:58

Also if you are buying Gold bars, you can go through Kijiji. Some sellers there used to resell it below the market price (though there were many who used to sell it above market price).

If you knew how to grade Gold, it is very easy to get Gold for cheaper prices here (18K). A lot of Canadians want to get rid of their 18K gold for very cheap prices. Just give an advt. in Kijiji and see how many replies you get.

Murali

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chandresh
Member since: Mar 03

Posts: 2606
Location: Toronto
Post ID: #PID

Posted on: 10-03-15 11:35:38

I was in the middle east last year and for the heck of it, decided to buy some gold - which I have never done. Went to the gold market, found the prices and immediately whatsapped to my son in Toronto. He got all the rates/charges etc from Scotia and when I compared it with price there, found Canada to be much cheaper even after taking all the charges.

I believe it is usually the case, because Scotia is also perhaps the biggest gold trader bank in world.

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Chandresh

Advice is free – lessons I charge for!!

Fido
Member since: Aug 06

Posts: 5286
Location: Canada
Post ID: #PID

Posted on: 10-03-15 12:43:46

In which case Chandresh , your observation may be more correct since there was a time lag of 1-2 days when I checked in 2011 ..

As discussed before , if buying with in NA , Kitco is a very strong dealer .. provided you are willing to wait and can have an account with them.

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Fido.

irock
Member since: Jan 08

Posts: 344
Location: Toronto
Post ID: #PID

Posted on: 10-03-15 13:20:22

Quote:
Originally posted by mrpandya

is there any price change if u buy from dubai or canada??
Thanks

Have to take into consideration the Canadain dollar conversion rate...

Usually I buy 1oz gold coins from CanadianPMX site

http://www.canadianpmx.com/Products/Gold/0" target="_blank">www.canadianpmx.com/Products/Gold/0

The benefit is their online price, changes accordingly to gold trading rate throughout the day & I can buy at anytime of the day at that moments market rate. Also they have a store in Richmond Hill(Toronto) so I can pick the coin while going back home in the same evening....

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i..........rock........!!!!!

adamthorat
Member since: Aug 11

Posts: 1041
Location:
Post ID: #PID

Posted on: 10-03-15 16:05:12

Quote:
Originally posted by happywoman36

I feel this is wrong time to buy Gold. It's better to invest in stock market now. I wish somebody can guide me as how to do online trading. I bought glaxo for $500 each 1000 shares and now it is 3500 each.

Online trading over here in Canada is very easy. You will mostly buy stocks listed on TSX - Toronto Stock Exchange. You can buy US stocks on Wall Street too, but then you have to convert your CAD into USD etc.

CIBC has a very good platform for trading & its only $ 6.95 per trade in commission.

https://www.investorsedge.cibc.com/ie/features/trades.html

You open a trading account with them & transfer money in & out from any Canadian bank with a click of a button.

Buying stocks in India on Bombay Stock Exchange with an Indian account in Rs. is also NOT hard, but the steps are more, if you are an NRI & more paper work is required

adamthorat
Member since: Aug 11

Posts: 1041
Location:
Post ID: #PID

Posted on: 10-03-15 16:12:24

If you are just buying GOLD as an investment, you can just buy GOLD certificates which are priced at the price of the Gold on that day.

The price of the certificate goes up or down as the price of gold goes up or down. You then buy or sell it just like selling or buying a stock online.

So you don't have the headache of physically storing the gold, the gold being stolen (theft ) , storage fees, finding if the gold is real or not, how pure the gold really is etc etc.

Now if you want physical gold or gold jewellery etc then its a different thing.

chandresh
Member since: Mar 03

Posts: 2606
Location: Toronto
Post ID: #PID

Posted on: 10-03-15 16:42:16

I think there are two different things - are you buying gold for physical use (ornament conversion, gift on weddings etc.) or to invest/trade?

If it is for trading, there is no need even to go to a bank - you can open an account with any of the forex brokers like FXCM and margin trade from office/home on your computer/phone for as little as 1oz. by keeping an initial margin of only USD 110.

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Chandresh

Advice is free – lessons I charge for!!

Contributors: adamthorat(5) tamilkuravan(5) chandresh(5) Fido(4) irock(3) Full House(2) mrpandya(1) clinton(1)

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Buying gold?

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