The irony of gold!

IIt is a traditional thinking that gold would always appreciate in value and it would be some property to fall back on, in a crisis. Rich people also need diversification of assets and that is why gold, silver ,debt instruments, shares and land are thought of as different assets where they can invest their money in.However, no rich person sells gold and only very few people do that when they are in need. On the other hand, poor people use this as an asset that can easily be pawned in a pawn shop and they also make use of it unwisely paying extraordinary interests. This is caused by illiterate thinking in poor circles [in our country]. Regarding the dilemma you have mentioned, one way is that even rich people do not flaunt their wealth by living in posh bungalows and owning swanky cars. Only if others know that they are rich they would become soft targets and be robbed even when they are wearing artificial jewelry. This is one reason why we keep our gold in lockers. I have not bought one bit of gold after marriage but I have no right to get rid of what was given by my father as heirloom. I pay five thousand rupees annually to maintain a locker but this cannot be helped. It is my duty to safeguard what is given by my parents.

I just take away that fear inside my head coz if that fear remains in me all the time, then I won't get to enjoy to wear my jewelries. So maybe it is just best to wear jewelries that are not to noticeable if you are just going to the mall or the park. And just splurge on all the sparkling ones when you are in a party.

Well, as with most of the problems of the world, this problem can also be solved if some of the people in this world leave their exorbitant greed, the world gets more equitable distribution of wealth and resources, and moral values take centerstage in our lives. When people shall have enough, and be less greedy, they would not even think about robbing someone.

I have no idea on how to solved this dilemma. Hahaha Its much better not to have gold accessories, just sell it and put the money in savings. Its much better than getting robbed.

I prefer stones and pearls. :( Not a great fan of gold, or silver, or platinum..:( Scared? No...I wear a thin chain...and it is more of an emergency cash kind...worst come worst served, I would be able to use it for ... I bet no thief would spend time planning to steal that chain..it is anyway..18 carat..not 22 or 24 carat..lol

Hi, You are right. There is no point in keeping gold in lockers anyway if one cannot wear it. The price of gold increasing day by day. But there is no decrease in demand of gold. It is better to wear artificial ornaments. If we have gold in our house we always afraid of robbery. So we can not live peacefully. What is the use of such thing which disturbs our mental peace?

I have to agree with you, its value is very high right now and i have some friends who do keep their gold in safe places rather than use them. I don't own much gold, i have some earrings and a gold necklace but i also do not use it often as i am afraid i will loose them. Often times i wear silver earrings or necklaces which is a lot more safe lol.

Now it is going down daily, people are crazy buying gold and gold jewelry.

Gold is always skyrocketing. It is good for investment. buy some gold, keep it, and sell when the price is very high.

Hi, since i don't have much of gold, i neither worry of wearing them nor storing them. lol. With the high tech robberies in (including bank lockers) or the snatchers it not wise to invest our hard earned money in buying and storing gold, but you may opt to buy gold bonds as investments for the future.

These people should come to Trinidad where there is a thriving trade in low value gold and a pawn business with huge profits for the purveyors.

Hi ! Yes in the city where i lived , it often happened , anytime , any day and any place ! So scary but this is the truth ! One never safe wearing those golds , it were so attractive to bad man's eyes . It is better to be simple in going out than to be fully decorated with gold , you are just putting your life to danger. So best way here is to go out with a very low profile , let us be simple as we can be anyways they said Simplicity is beauty.