Gold is the only commodity whose value goes up as the value of the Rupee goes down. Even though the price of gold is all time high, looking at the current economic scenario it makes sense to buy gold, and especially if the vendor is none other than the Government of India. Government should start selling gold in all other states and not just in the 4 mentioned states.
Someone will now have to start taking inventory of gold holdings in ETFs. I think that is the next biggest scam that will hit the world soon. Gold is already peaking out and is no more considered a hedge against inflation due to highly inflated rate.
Almost all the jewelery shops are cheating people by putting making charges & wastages. Selling the gold coins in Post office is really make postal department to earn good money and people will also get benefited.
Re: Very good initiative
by manchit raikar on Oct 15, 2008 06:09 PM
When you sell gold coins to jewellers they give you full value.In case of ornaments there has to be wastage charges as you will get less gold when it is melted. Also Post office will have lots of formalities hence it is better to trade gold coins through jewellers.
