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Gold Facts


buy gold on diwaliAs we head towards another Diwali, here are some gold facts to keep you motivated to make regular purchases in the physical product.Repeat ;physical and no version of paper gold.

1.With every 1 per cent rise in income, gold demand climbs by 1 per cent. But when prices rise 1 per cent, gold demand falls only 0.5 per cent.

2.For a 1 per cent increase in inflation, gold demand increases by 2.6 per cent as investors turn to gold to protect themselves against inflation.

3.Rural consumers show a pronounced preference for plain gold jewellery, while urban consumers are likely to buy gold set with precious and semi-precious stones.Plain gold jewellery accounts for some 88 per cent of purchases in rural India while the corresponding figure for urban areas is 57 per cent. In the days of rampant lab simulated diamonds sold as natural ones,a body is likely to help themselves by choosing plain gold pieces or simply discounting the price of “diamonds” while buying ornaments.Better assume them to be fake and be pleasantly surprised if they turn out otherwise. Read more of this post

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The $10K Per Ounce Figure


wealthymattersGold bugs tend to get long term trends right.

They however routinely make the mistake of thinking that others are as cautious, prudent and willing to err on the side of caution as they themselves.

Most of the world is not.

So their scenarios tend to pan out, but not before may others have been acclaimed right and then proven wrong by time.

Read what Jim has to say and think about it if ever you are contemplating getting rid of old gold stocks and going gold free. But don’t waited with baited breath to realize such prices either.

Read more of this post

On Why Bitcoin Can’t Replace Gold Bullion


Physical gold is prized as “real” money in that in physical terms it is tradable for remarkably constant quantities of staples such as wheat or a fine set of clothes ,across cultures and down the ages.

Unfortunately, Bitcoin that is supposed to behave like gold-money shows nothing of this consistency.

Here’s what Bitcoin could have purchased you since in the last few years:

1 Jan 2010

Value of bitcoin : $0.08 : Rs 3.7
What you could buy: Small packet of biscuits Read more of this post

Oil, Gold, Stocks, Vitage Cars And Pink Diamonds


wealthymatters

Beware Senco Gold And Amazon


Beware of ordering anything from Senco Gold Jewellers, Kolkata and the authenticity of reviews on Amazon.in

Here is the review of my order from Senco that Amazon won’t allow on its site :

 Avoid Company And Products At All Cost.
 
1.Charged More than shown online.
2.Very Late delivery and had to resort to multiple phones to get goods or refund.
3.Delivery company opted for by company tries every means of force and fraud to illegally acquire your PAN/Aadhar photocopy.
4.No reason to believe that sellers themselves might not be involved. Mobile numbers they disclose via e-mails are not in existence.
5.Simply no peace of mind after placing an order with this seller. Or even finally receiving the product.

I placed a minor order on Diwali Day. One of 3 on Amazon. No problem with the rest of the Sellers.

In the case of Senco ,order was delivered only after evoking A-Z Guarantee.

Courier is a private party engaged by the jeweller.

Beware of Safeway, the couriers, even after supposed instructions to the contrary by the jeweller and their own higher ups, attempted to forcibly steal PAN details.

In the days of raids on jewellers, caught on the wrong side of demonetization, not knowing if all copies of my PAN that the delivery person tried to steal was destroyed, is giving me no peace of mind.

Who wants to unwittingly provide cover for the hard to explain/unexplainable purchases of others?

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