Nilesh Shah On Gold @KotakSecurities #KotakMidCapMeet15


wealthymattersPaper Investors have a fundamental difference in thinking from those who prefer tangible assets.
His argument is that as India is the only buyer of gold, the day we all wish to sell, we will find no buyers offering a good price. Banks are prohibited by law to buy-back gold and jewelers have stocked up gold on credit.
My understanding is that, gold sold at the time of large scale distress, such as war or its aftermath, might not get us a good price in any given currency, but gold is “money” that is directly exchangeable for goods and services.
Buying gold is a statement on non confidence in the currency of any given country. And the establishment that devalues it.

 

And in anycase, Mr Nilesh Shah is wrong on fact. Indians are not the only buyers of gold.

Recycle Your Scrap Gold And Get Paid For It


wealthymattersBeing something of a gold-bug and an investor with a preference for tangible assets, I don’t much care for the line of thought that sees gold as a dead asset. Moreover, no matter however deeply unfashionable, I believe that by “worshipping” gold as we Indians do, we actually help keep our politicians “honest”. Gold has a way of exposing the economic lies and false promises of the powers that be.

However, should you have scrap gold with you-broken artefacts,worn out jewellery that simply can’t be repaired any longer,9Kt gold,14Kt gold- the new gold deposit scheme is a god send.

Normally, you’d have to pay to have the gold melted down and made pure but as per the provisions of the Gold Monetisation Scheme, the banks would pick up this tab. And they have to pay you a small interest for the period you choose to entrust the gold to them.

So go ahead and approach the banks with your scrap gold. A short while later, you should be able to withdraw your gold as 995 gold bullion.

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