Scotia Plaza was sold out by 4p.m today ...as told by a friend who said there were many desis in the queue.
Good shopping for Rakshabandhan!
Location: God's own country
Posted on: 15-08-08 17:46:08
Quote:
Originally posted by AshwaniG
To buy a 10 gm of gold biscuit as of today from scotia will cost
275$+5 $ ( commission ) + shipping if not picked from Downtown .
If U sell it back to Scotia one will get 241 $ after deducting all fees e.t.c .
So it seems that Gold might be a good investment only for long terms .
Experts please shed more light ..
Personally I think it is a very bad decision to buy Gold now. The Gold has not reached the bottom yet. The US$ is raising against major currencies like the Euro and people are pulling the moeny out of oil / gold and putting it into the US$. Oil and Gold go in the same direction and in opposite direction when compared to the US $. If you buy it as an investment in the short term, it is again foolish as you loose 15% in commisions.
I would suggest that you wait for the appropriate time to buy. Like if there is a major explosion in some oil fields/ some supply disruption / very weak data economic data from USA , buy Gold immediately.
No one can tell the bottom but I feel that the bottom is yet to come. Esp. during and after the Beijing olympics will see a slump for oil and thus Gold.
all IMO
Please do your due deligence before buying the yellow stuff.
Peace
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I am a Gents and not a Ladies.
Just one thing to remember, there are also huge sotrage cost if you let them keep it for you, just in case
Today the Gold market hit a low of $790-792 for a brief period. That was the LOW.
But it bounced back to $800. Currently at 804.
It is trending towards $775. But it will be there briefly and looks like a major support point.
Please keep a watch. The next stop will be $750, where the next major supports are.
Freddie.
Quote:
Originally posted by ftfl
Today the Gold market hit a low of $790-792 for a brief period. That was the LOW.
But it bounced back to $800. Currently at 804.
It is trending towards $775. But it will be there briefly and looks like a major support point.
Please keep a watch. The next stop will be $750, where the next major supports are.
Freddie.
Hi Desi's,
We are back to 760 levels and some experts predicting this might be the lowest fo this year and better to buy if any one is looking for physical.
Any updates or suggestions..
rgds
mrk
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MK
Location: God's own country
Posted on: 10-09-08 14:44:03
Quote:
Originally posted by mkannuri
Hi Desi's,
We are back to 760 levels and some experts predicting this might be the lowest fo this year and better to buy if any one is looking for physical.
Any updates or suggestions..
rgds
mrk
Sorry MKannuri,
I differ. The worst is still not over yet and hence there is a very likely chance that Gold may slip even further.
The market is still spooffed by Lehman brother's cash crunch and housing data still proves that the worst is not yet over.
Gold will go low even more in the coming days. They are trying to puch oil below $ 100 a barrel and even towards $80. With the hurracane not hitting the gulf coast / no politcal games, it will be a reality
So please stop buying Gold even at these incredably low prices. You will have a chance to pick it up even lower.
Hope this helps.
Peace
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I am a Gents and not a Ladies.
Hi Tk - Out of sheer curiosity, what is the link between Beijing Olympics and price of Gold? Honestly I am just intrigued...Thanks.
