Considering that we were in the thick of Diwali festivities, last week we discussed a topic of interest for all – gold investments. There is more to gold investments than jewellery as you will find out from this interesting chat. Here’s the recap:
Alright. Time for our first question! Q1: Do you celebrate dhanteras? If so, how? #MoneyViewChat #GoldInvestment pic.twitter.com/rijjgQ6KKd
— MoneyView (@MyMoneyView) October 27, 2016
@MyMoneyView A1 – I don’t know what Dhanteras is… In South India we do not celebrate it 😀 #MoneyViewChat #GoldInvestment
— Nakul.M.Dev (@nakulmdev) October 27, 2016
@MyMoneyView by buying gold coin and crockerys
— PANKAJ SHARMA (@PankajS1) October 27, 2016
A1. Yes. Some jewellery purchased for my better half and silver bangle for my kid. #MoneyViewChat
— Dharmin Kansara (@itzdeekay) October 27, 2016
@MyMoneyView Yes, We buy silver #MoneyViewChat
— Santhosh Soans (@SanthoshSoans) October 27, 2016
Those among our community who celebrated Dhanteras did so by buying gold or silver jewellery. Some bought utensils too. This did seem like a day that would be a jeweller’s delight.
Our next question. Q2: What are some tips you can share about gold shopping? #MoneyViewChat pic.twitter.com/FQyQHlQL3R
— MoneyView (@MyMoneyView) October 27, 2016
@MyMoneyView A2 sort out your purpose of buying gold, r u buying jewellery or an investment. #gold #Dhanteras #moneyviewchat
— Simardeep Singh (@simardeep88) October 27, 2016
@MyMoneyView A2) Buy gold for bank is a good option. #MoneyViewChat
— Hetal Vin (@VHetal) October 27, 2016
@MyMoneyView #MoneyViewChat i believe we have to buy gold from trusted stores with 916 purity and hall mark
— GANESH / ഗണേഷ് (@godsowntalk) October 27, 2016
@MyMoneyView A2: For collectors, start early so you get a good piece.
If purely for investment, buy gold coins from Bank.#MoneyViewChat— Saru (@BaawriBasanti) October 27, 2016
Some useful tips were shared by the participants about buying gold. Gold coins were considered a prudent option for investment. Gold jewellery was preferred to be purchased by trusted sources and with all necessary certification.
Moving on to Q3: What are your thoughts on shopping for gold online? #MoneyViewChat pic.twitter.com/4I28en1WKK
— MoneyView (@MyMoneyView) October 27, 2016
@MyMoneyView A3: I can buy coins but not jewelry. I collect pieces with great care and love 🙂#MoneyViewChat
— Saru (@BaawriBasanti) October 27, 2016
@MyMoneyView A3 Go for digital gold like Gold ETF, Sovereign Gold Bonds to save on the storage n safety costs 🙂 #Dhanteras #MoneyViewChat
— Simardeep Singh (@simardeep88) October 27, 2016
@MyMoneyView #MoneyViewChat i prefer buying directly from gold jewellery at my place
— GANESH / ഗണേഷ് (@godsowntalk) October 27, 2016
A3. More of a seeing the gold, buying the gold person. Old habits die hard! #MoneyViewChat #GoldInvestment https://t.co/cnsI3uhlj8
— Minna pauly (@Minnz89) October 27, 2016
Most people preferred to see the gold before buying jewellery hence jewellery being bought online is still very niche. Gold coins, gold bonds and ETFs due to the nature of the purchases are easily bought online.
Moving to our next question, Q4: Is gold still a good investment option? #MoneyViewChat #GoldInvestment. pic.twitter.com/uexQp4UFfm
— MoneyView (@MyMoneyView) October 27, 2016
@MyMoneyView A4: Not for me. I prefer stocks. And, I don’t do commodity trading.#MoneyViewChat
— Saru (@BaawriBasanti) October 27, 2016
@MyMoneyView A3) Yes, Gold is still good investment but for short term #MoneyViewChat #GoldInvestment.
— Hetal Vin (@VHetal) October 27, 2016
A4: Yes. Gold is always a good investment option, I think. #MoneyViewChat https://t.co/YPFaNJdbmD
— Tarang Sinha (@TarangSinha) October 27, 2016
Given the affinity of Indians to gold, it was seen that most of our community members thought gold to be a great investment option even now.
Our last question for the evening, Q5: Do you invest in gold without physically buying? How? #MoneyViewChat pic.twitter.com/bD3Kt0NIA5
— MoneyView (@MyMoneyView) October 27, 2016
@MyMoneyView #MoneyViewChat no ,i think there better options which give more returns now
— GANESH / ഗണേഷ് (@godsowntalk) October 27, 2016
@MyMoneyView I don’t. #MoneyViewChat #GoldInvestment
— Santhosh Soans (@SanthoshSoans) October 27, 2016
A5 Yep, via Sovereign Gold Bonds and ETFs. Safer, hassle free but returns linked to market. #MoneyViewChat https://t.co/Hadd5TpEu9
— Rachna says (@rachnaparmar) October 27, 2016
Again, despite the government’s best efforts, sovereign gold bonds and other online gold schemes still find a very niche market. Most people do prefer to buy physical gold in the form of jewellery and gold coins.
With this we wrapped another interesting session at #MoneyViewChat. Do join us every Thursday between 7 and 8 pm for some fun and chatter around Finance and Money.