Gold: The party's over
By anilhclites
@anilhclites (844)
India
April 14, 2013 3:22am CST
Sorry, but the party is over. The notion that gold is the finest investment, whose value can only go up, is dead wrong. History shows that gold fluctuates crazily, so it can look a fabulous investment for some time and then become a total disaster. There's nothing safe about it.
For the fist time since 2011, gold below Rs 28,000. Indian speculators and houswives, please read the writing on the wall. The special reasons driving the gold boom of the last decade is gone. It's time to sell gold, not buy.
2 people like this
4 responses
@gljcleeve (147)
•
18 Apr 13
Anybody who thinks gold is still a good investment these days needs to take a closer look at the financial trends.
It getting so bad that I'd personally recomend that people get rid of their gold before it starts actually costing them money.
If anyone needs help disposing of this almost worthless commodity, my address is ....
:) :) :)
@Professor2010 (20162)
• India
18 Apr 13
It will go down to 25000 as expected, many are waiting for that.
@anilhclites (844)
• India
18 Apr 13
We are hoping it to be down to 23000. That will be great. I think at the end of 2013, it will surely be touching 23000.
1 person likes this
@ptrikha_2 (47064)
• India
18 Apr 13
Gold had already climbed to crazy levels- Rs. 31,000+ . It was becoming unaffordable for many. I believe even the lowest of the super-rich would have started thinking a bit before making purchases. And long back, Gold had risen somewhere around early 1980's internationally and had fallen steeply, and had remained subdued until last 6-7 years. So, the notion of ever rising prices is a fallacy. Yet, I believe the safe option from investment point of view would be a kind of Gold SIP.
What do you say?
@ginnimia (145)
• India
14 Apr 13
Yea buddy gold is going down these days the govt. is making all country rate almost same so that the smuggling of gold stopped. I was also planning to buy gold as its became cheaper around 4000 rs but i think i should wait for little bit more time because i have heard that gold will came more down in coming festivals.
I dont think investing in gold will be profitable.
@anilhclites (844)
• India
14 Apr 13
The reason why gold rate was increasing during the last decade are gone and gold will slip. But who knows other factors may arise and gold rate again surge, this time to new levels. But for now, investing in gold is not a noble idea.
