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Advice on gold purchase

Suraj Agarwal (Self Practitioner in Income Tax & GST)   (781 Points)

18 April 2013  
HELLO FRIENDS, AS ALL OF US KNOW THAT GOLD RATE IS ABSOLUTELY DOWN IN THE MARKET. NOW I WANT TO KNOW YOUR OPINION THAT WHETHER I SHOULD PURCHASE GOLD BARS AT THIS MOMENT OR STAY FOR IT ??

 23 Replies

CA Mukesh Choudhari (xyz) (153 Points)
Replied 19 April 2013

Yes, go with your purchase. As its an short term fall which is likely to be correcte from june onwards Its an golden period for gold purchase

sazzu arshad (nellore) (49 Points)
Replied 19 April 2013

Yes its a right time 2 purchase Just purchase bars it vil more beneficial to u

Suraj Agarwal (Self Practitioner in Income Tax & GST)   (781 Points)
Replied 19 April 2013

THANKS FRIENDS.

BUT I WANT TO KNOW THAT

IS GOLD RATE WILL BE MORE DECRESED IN THE CURRENT MARKET POSITION OR IT WILL BE STABLE OR IT WILL BE GO BACK TO 30's.

SHARE YOUR OPINION.

Dhyan Swaroop Kapoor (Cost Accountant ) (184 Points)
Replied 19 April 2013

You should defer your purchase of Gold for next 6-8 months and wait for its prices to stablize somewhere below Rs 23000/-. However, in between, if any panic selling comes once again and the prices come down to Rs 21000/- around, then you can buy. The above conclusion is based on Technical Analysis.  Regards, DS Kapoor, Cost Accountant

MANI GUPTA (CA) (300 Points)
Replied 19 April 2013

Don't purchase Gold for the next 1-2 years.. bearsih cycle has just started...
As a technical analyst I'll also stick to dat... Downfall has no limits.. may be 22k or below 20k... But its a downtrend as of now..

1 Like

MANI GUPTA (CA) (300 Points)
Replied 19 April 2013

HAVE A READ...



Gold is not money/Currency. When people believed that gold was money, it was not money. Anything can be money. Anything at all. Dung can be money...and has been. Money is a concept. It is what we all agree that it is. 
Gold is just another commodity. It has some usefulness in electronics and jewelry, but it doesn't get used up so the supply never really declines...even over thousands of years. As a commodity, it should (and certainly has, historically) track with other hard commodities in terms of price.
Hint: In 1913, gold was $20 an ounce. Price inflation since 1913 is just under 2400%. Therefore, gold should be about $475 an ounce. but beyond that the only thing which sustains the gold bugs is the propagation of fear. If you're paranoid, buy gold. If not, it's ridiculously overpriced,,,
 
 

 

2 Like

Dhyan Swaroop Kapoor (Cost Accountant ) (184 Points)
Replied 19 April 2013

Fundamentals have got its own importance. But the price of any commodity / any other thing is normally a function of demand & supply. In between, greed and fear also play its respective roles. By applying tools of technical anlysis, we try to extrapolate the current data and try to know the expected future behaviour. Since the long term trend of bullion is intact as of now, Gold is to be once again a very good buy at lower levels for giving wonderful returs for atleast another 6-8 years. After that I can not extrapolate now. But at the moment, one has to wait for 6-8 months and to review at that time once again.

Dipak Soni (Trainee) (111 Points)
Replied 19 April 2013

Yes Suraj you can buy  .....This is the right time to buy dnt expct gold to fall below 25000.......


(Guest)

Find a link

https://sensibull.com/blog/sensibull-speaks/gold-will-it-fall-below-10000-rupees


(Guest)

https://sensibull.com/blog/sensibull-speaks/till-where-will-gold-price-fall

CA Mayank Tulsyan (B.Com(H), ACA) (274 Points)
Replied 19 April 2013

Current phase is the begining of bearish trend.. you should wait before you buy it. Let it stabilise first. It might fall more. I dont see gold rising back to itz strengh in 10-12 months

CS Sandip Rahane (CS & Legal ) (363 Points)
Replied 19 April 2013

You can catch the low prices at this level and purchase in little quantity, if you are invetor. Major correction is pending/ due in the Gold/ Silver which likely to come in the coming month.

Best you can accumulate from this level ...up to 23.5k/ 22k, ....but it would not give better return like as earlier.

You have seen only trailor in last week....Now real picture has not started. Once it will start then people will be surprised.

Suraj Agarwal (Self Practitioner in Income Tax & GST)   (781 Points)
Replied 19 April 2013

Thanks to all Participants.

As All of your's view, It is quite sure that current rate will prevail at this level for some time. 

Am I right ??

CA Mayank Tulsyan (B.Com(H), ACA) (274 Points)
Replied 19 April 2013

Perfect market does not exist. So nobody can be sure. But expect it to be bearish fr some time. So wait before you buy


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