Akshaya Tritiya: Are you buying gold?

It is that time of the year when everybody is buying gold. Or at least the guys who are selling gold think customers should be buying gold. If you are in a Hindu country – not by constitution but by sheer numbers – you will be pushed into thinking everybody is buying gold. My wife will be in a bank tomorrow (daughter’s drawing competition) when some Relationship Manager will be hard selling gold to her.

Everybody is asking me one question: Should I be buying gold? I do not have an answer. Gold is in some kind of a tearing hurry to go somewhere – so in spite of the fact that it may not be a great investment, people are rushing towards Gold. What is the reason? Greece? Spain? Pakistan? I do not know.

Look at any situation and today you can only see optimism regarding gold prices. Are you too late to buy? Should you have already bought it in October  2008? Is it still worth buying? Personally I am not for buying a commodity when it is hitting its all time high. Ouch! that hurts, does it not? You bet it hurts!

However I may not be alone – some time in December 2009 I heard Money Watch Editor Eric Schurenbeg say gold is over priced. However Jim Rogers had predicted a price ‘above a couple of ‘000 dollars. So the experts are BATTLING IT OUT THERE. I have done some posts in the past ..take a look:

http://www.subramoney.com/2009/11/reasons-to-sell-gold/ (see the dates also)



have fun, get confused, buy gold, or convert a bangle set to cash which will buy you and your family a vacation in South Africa – look at the lions! Or a visit to the North East of India – depends on what you wish to talk at the next cocktail party! I am happier with silver – which has not gone up in such a hurry!

PS: I am completely incompetent to talk about GOLD. I have never bought, kept, or sold. If anything, I have been a consumer – but abysmally small quantities – not worth talking about. So beware of what ever I have said here…Just a caveat. Beware of plugs!!

also look at this http://moneymorning.com/2010/05/14/gold-3/

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One Response to “Akshaya Tritiya: Are you buying gold?”

  1. Subra,

    Why there is no ETF for silver in india? is any AMC having plans to introduce them? i think it’ll be a very good bet in the long term.


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