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  Canada Immigration Forum > About Canada > Financial Planning > Gold as Investment
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Gold as Investment




Hi guys,
I am thinking of buying this for investment and also for making jewelery later.

I have the following questions:

1. Which is better to buy bar or Maple coins?

2. Do we need to pay any customs duties while taking Gold to India?

3. Where to buy Gold coins or bars in Canada?

Please share your thoughts.

Thanks


 
cdn_001

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Post ID: 163406 14-05-10 09:53:21
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ftfl
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If I am ahead of you in the line up..... Don't expect to get....

Do tell me how do you expect to make money?

Wafers.

No customs duty, upto a sum of.....??!! : http://indiacustoms.blogspot.com/2008/01/import-of-gold-silver.html

Don't buy in Canada. They TAX you here.

http://www.reuters.com/article/idUSTRE64C3Y220100513

Freddie.


 
Post ID: 163415 14-05-10 11:07:38
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cdn_001
Junior Desi
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Quote:
Originally posted by ftfl


Do tell me how do you expect to make money?

Freddie.




I was thinking ,If I can hold on to it for next 10 years ,I think I can double or even triple the investment.

13 % tax on the top of the gold makes it expensive. I will wait for the next trip to India via Gulf to buy.


Thanks Freddie.


 
Post ID: 163417 14-05-10 11:45:41
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ashedfc
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Posts: 2153
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Buy a Precious Metals Fund in a TFSA account. All the gains are Tax free, & you have daily liquidity.
Look at Sentry Select Precious Metals Fund (with us you can get in a No Load version).
This fund is up over 36% year-to-date


 
Post ID: 166009 20-06-10 18:04:54
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gautam0597
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Can I sell the gold in Toronto?
Can I sell the gold that I have bought in India with a bill in Toronto to a Jeweler?
Do they give the on going bullion rates or a better rate?
Are there a lot of jewelers in Toronto who will buy Gold from me.

Thank u.


 
Post ID: 166829 02-07-10 03:03:15
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mitsaus
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Hi Freddie,

So you are suggesting we buy the gold in Dubia to avoid HST here. Can we then bring this gold here rather than take it to India


Quote:
Originally posted by ftfl


Do tell me how do you expect to make money?

Wafers.

No customs duty, upto a sum of.....??!! : http://indiacustoms.blogspot.com/2008/01/import-of-gold-silver.html

Don't buy in Canada. They TAX you here.

http://www.reuters.com/article/idUSTRE64C3Y220100513

Freddie.



 
Post ID: 166857 02-07-10 11:01:54
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ashedfc
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Member since: Jun 10




Posts: 2153
Location: GTA


Buy Gold through a Fund or ETF, where you don't have liquidity & storage issues.
1. ETF - Like GLD, PHYS
2. Funds - Sprott Glod Bullion Fund, Dynamic Strategic Gold Fund, Sentry Select Precious Metals Fund, etc, etc.
The objective is to take some exposure into Gold (as a diversification), so you protect the value of your money in a currency devluation environment.
Read the link from march 2010 but the info holds true even today http://www.bmgbullion.com/doc_bin/03.16.10_Gold%20is%20Money.pdf


 
Post ID: 166863 02-07-10 12:05:27
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ftfl
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FOR COLLECTORS...

For those who want to buy and hold or collect, it is a lot economical to purchase where there are no taxes imposed on the sale of the item. DUBAI is one such place.
I saw the hotel lobby picture in one such hotel and brought it up to your attention. There may be many more countries and places where you can buy Gold openly and tax free.

In Canada, if you are buying it for melting and for ornaments, you can buy the WAFERS, also 99.9% pure, without paying any HST. But the jewelers who sell these add their sales commission on top. So buying gold here in Canada is made prohibitive. If you do know some one in the trade, they will help you a little.

For financial gains or the securities, it will be nice to do some research aboout this commodity and the field, prior to entry. Do remember you are in a wild ride as its volatility is high since it has gotten above the $1200 US level.

Do your due diligence, as always.

Freddie.






 
Post ID: 166876 02-07-10 13:45:23
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cdn_001
Junior Desi
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Thanks all.


 
Last edited by: cdn_001 on 21-07-10 08:22:42
Post ID: 168054 21-07-10 08:19:04
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rajivjuthani
Senior Desi
Member since: Jun 05




Posts: 146
Location: Mississauga


Hello All,

If the motive is to hold on to gold for a long time? is it possible to buy gold as an RRSP.

All advice appreciated.
Thanks,
RJ


 
Post ID: 168057 21-07-10 10:41:16
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