Why should I invest in gold when I have other options like fixed deposit?
Do see the below chart
Value in 2005
24K Gold = Rs 20000 ( 1 Ounce price)
Fixed deposit in Bank = Rs 20000 ( 8% Interest)
Value in 2010
24K Gold = Rs 56500 ( 1 Ounce price)
Fixed deposit in Bank = Rs 28000 ( 8% Interest)
Tail piece:
Y2008 – 1 Gm = 1290 (24 Carat)
= 1199 (22 Carat)
What is the approximate growth of gold rate per year?
Approximate 20% (Refer Y2005 – Y2010)
Why should I buy gold coins instead of gold jewels?
When you sell gold jewels, deprecations amount will be applicable. But coins are taken by market rate.
Where can I get gold coins?
All most all nationalized banks in India and Some Private banks.
What is the difference in private jewelers and bank’s gold coin?
Gold Purity.
What is the assurance for purity when I get gold coin from bank?
Swiss made with Assay Certification
24 Karat, 999.9% purity gold.
Bank logo
Packed in tamper proof
Will Bank of XYZ buy back the gold sold by them?
Bank of XYX does not buy gold coins sold by them. You can sell it to any jeweller.
are there any banks having URL to check the current gold price?
Yes, do find the list
statebankofindia
bankofindia.com
unionbankofindia.co.in
bankofbaroda.com
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