The Gold Thread

lambuhere1 · 27th April 2009, 13:26

Hi

Today being a good day to buy gold, couple of my friends are pestering me if I had any info about locations where we can buy 24K gold coins/bars.

If anyone has any information on the same, Kindly educate me please

-GS- · 27th April 2009, 13:32

You can buy it from any reputed jeweler or ICICI bank.

DCEite · 27th April 2009, 13:39

You can buy it from a bank, but keep in mind they will not buy back it from you (if in future you want to sell it).

sukiwa · 27th April 2009, 13:48

Would use following preference:

1. Gold ETF (Buy gold in electronic format, trades similar to a stock. Need a demat account to buy)
2. Reputed Jeweller in the city (Cheaper than Banks)
3. Banks

srishiva · 27th April 2009, 14:01

During lunch break, we had ICICI representatives selling gold coins near the cafeteria !

lambuhere1 · 27th April 2009, 14:08

Thanks guys for all your guidance.

I believe he wants for his personal uasge only and I doubt if hes interested to sell it back to the bank

EFT, nah, hes not into electronic trading and all

ICICI bank, Good Choice, since he has an account with them. Will convey the same to him.

Thanks a lot again

PatienceWins · 27th April 2009, 14:22

I buy gold coins from Bhima, it is a reputed jewellery on Dickenson road, next to Manipal cente (very close to M.G. road).

A small part of my portfolio is gold as it gives good returns and is safe.

jango · 27th April 2009, 14:50

If you ever travel to Singapore you could pick up gold coins from any of the gold stores. Not because of the cost but for the purity of gold.

sgiitk · 27th April 2009, 14:55

Banks charge a premium of about Rs.1000 per 8gm coin. I hear that you may be able to buy the same coins at a lower premium from your jeweller. These will be coins which come in as a trade-in for jewellery. I am told they charge a far lower premium.

hillram · 27th April 2009, 14:59

ICICI Bank offered me some good rates,so i ended up with few coins on saturday,just before i booked my Nano.

nitrous · 27th April 2009, 22:54

The Post offices sell Gold coins too. Atleast here in chennai.

Samurai · 27th April 2009, 23:08

Where was this Akshaya Tritiya concept few years back? I first heard it in 2004, and now it has become such a craze, I keep wondering how such an ultra-auspicious gold buying day was unknown to everybody until this decade.

It must be the biggest marketing coup of this decade.

karankapoor · 27th April 2009, 23:52

gold coins are easily available with all gold jewelers in 1g/2g/5g/10g and bigger as 500gm brick is called a half bread and 1kg brick is called bread, you can buy them from your regular jeweler as they now comes packed from different sellers with the tinch marking on them.

so it is safe now to buy gold coins the rate differ from day to day you will get 10 gms gold coin (suppose today's mcx rate was 14500/- for per 10 grams so the market rate will be around 14700/- or 14750/-)

Steeroid · 27th April 2009, 23:57

Weird question for today - just follow the queue! The gold shop near my house had a queue of ladies standing outside at 7.30 am today.

androdev · 28th April 2009, 06:34

Hmmm... Like samurai mentioned I have also heard about this akshaya tritiya only a couple of years back and more importantly it is become really a 'big-deal'

I think gold coins are a bad idea, we have some and I always felt jewelery would have been a better choice - the 15% max making charges u pay atleast makes the gold useful to wear them.

Btw krishnaya chetty & sons on commercial street bangalore has a good collection of these coins. Kerala shops like josco, alukas, etc. don't.

27th April 2009, 13:26	#1
lambuhere1 BHPian Join Date: Oct 2005 Location: @ Driver's Seat @ Posts: 708 Thanked: 106 Times	The Gold Thread Hi Today being a good day to buy gold, couple of my friends are pestering me if I had any info about locations where we can buy 24K gold coins/bars. If anyone has any information on the same, Kindly educate me please
	() Thanks

27th April 2009, 13:32	#2
-GS- BHPian Join Date: Feb 2007 Location: Delhi Posts: 390 Thanked: 18 Times	You can buy it from any reputed jeweler or ICICI bank.
	() Thanks

27th April 2009, 13:39	#3
DCEite Senior - BHPian Join Date: Sep 2004 Location: NCR Posts: 3,415 Thanked: 2,534 Times	You can buy it from a bank, but keep in mind they will not buy back it from you (if in future you want to sell it).
	() Thanks

27th April 2009, 13:48	#4
sukiwa Senior - BHPian Join Date: Dec 2006 Location: pune Posts: 2,378 Thanked: 2,562 Times	Would use following preference: 1. Gold ETF (Buy gold in electronic format, trades similar to a stock. Need a demat account to buy) 2. Reputed Jeweller in the city (Cheaper than Banks) 3. Banks
	() Thanks

27th April 2009, 14:01	#5
srishiva Senior - BHPian Join Date: Nov 2006 Location: Bengaluru Posts: 4,375 Thanked: 2,256 Times	During lunch break, we had ICICI representatives selling gold coins near the cafeteria !
	() Thanks

27th April 2009, 14:08	#6
lambuhere1 BHPian Join Date: Oct 2005 Location: @ Driver's Seat @ Posts: 708 Thanked: 106 Times	Thanks guys for all your guidance. I believe he wants for his personal uasge only and I doubt if hes interested to sell it back to the bank EFT, nah, hes not into electronic trading and all ICICI bank, Good Choice, since he has an account with them. Will convey the same to him. Thanks a lot again
	() Thanks

27th April 2009, 14:22	#7
PatienceWins Senior - BHPian Join Date: May 2007 Location: Bangalore Posts: 2,416 Thanked: 807 Times View My Garage	I buy gold coins from Bhima, it is a reputed jewellery on Dickenson road, next to Manipal cente (very close to M.G. road). A small part of my portfolio is gold as it gives good returns and is safe.
	() Thanks

27th April 2009, 14:50	#8
jango BHPian Join Date: Mar 2006 Location: New York & kotayam Posts: 800 Thanked: 23 Times View My Garage	If you ever travel to Singapore you could pick up gold coins from any of the gold stores. Not because of the cost but for the purity of gold.
	() Thanks

27th April 2009, 14:55	#9
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,788 Times	Banks charge a premium of about Rs.1000 per 8gm coin. I hear that you may be able to buy the same coins at a lower premium from your jeweller. These will be coins which come in as a trade-in for jewellery. I am told they charge a far lower premium.
	() Thanks

27th April 2009, 14:59	#10
hillram Senior - BHPian Join Date: Apr 2007 Location: Hyderabad Posts: 2,942 Thanked: 1,326 Times View My Garage	ICICI Bank offered me some good rates,so i ended up with few coins on saturday,just before i booked my Nano.
	() Thanks

27th April 2009, 22:54	#11
nitrous Senior - BHPian Join Date: May 2004 Location: UAE/Lon/Madras Posts: 6,965 Thanked: 325 Times View My Garage	The Post offices sell Gold coins too. Atleast here in chennai.
	() Thanks

27th April 2009, 23:08	#12
Samurai Team-BHP Support Join Date: Jan 2005 Location: Bangalore/Udupi Posts: 25,826 Thanked: 45,514 Times View My Garage	Where was this Akshaya Tritiya concept few years back? I first heard it in 2004, and now it has become such a craze, I keep wondering how such an ultra-auspicious gold buying day was unknown to everybody until this decade. It must be the biggest marketing coup of this decade.
	() Thanks

27th April 2009, 23:52	#13
karankapoor Senior - BHPian Join Date: Apr 2008 Location: in the car!!! Posts: 1,675 Thanked: 6 Times	gold coins are easily available with all gold jewelers in 1g/2g/5g/10g and bigger as 500gm brick is called a half bread and 1kg brick is called bread, you can buy them from your regular jeweler as they now comes packed from different sellers with the tinch marking on them. so it is safe now to buy gold coins the rate differ from day to day you will get 10 gms gold coin (suppose today's mcx rate was 14500/- for per 10 grams so the market rate will be around 14700/- or 14750/-)
	() Thanks

27th April 2009, 23:57	#14
Steeroid Senior - BHPian Join Date: Mar 2005 Location: N.A Posts: 7,046 Thanked: 2,751 Times	Weird question for today - just follow the queue! The gold shop near my house had a queue of ladies standing outside at 7.30 am today.
	() Thanks

28th April 2009, 06:34	#15
androdev Distinguished - BHPian Join Date: May 2007 Location: bangalore Posts: 3,096 Thanked: 22,299 Times	Hmmm... Like samurai mentioned I have also heard about this akshaya tritiya only a couple of years back and more importantly it is become really a 'big-deal' I think gold coins are a bad idea, we have some and I always felt jewelery would have been a better choice - the 15% max making charges u pay atleast makes the gold useful to wear them. Btw krishnaya chetty & sons on commercial street bangalore has a good collection of these coins. Kerala shops like josco, alukas, etc. don't.
	() Thanks