is it possible to invest our gold to get returns? ie. i want to invest my gold jewels & gain interest!?

Question

please suggest some idea or plan, where i can invest my gold jewel to gain interest. Note: i am not talking about gold loan, where i pay the interest for my gold, iam asking vice-versa.!
hope its clear.!

Answer 1

Hi Everyone,

Padma does not want to buy gold & invest. She just wants to earn interest on the gold jewellery she already has.

Hi Padma,

I assume you are currently residing in India.

Being of Indian origin, I am sure that various banks in India allow you to deposit the Gold that you already have & earn interest on it.

State Bank of India has a special account for such deposits.

I found the following page when I "googled" around:

http://www.indianexpress.com/res/web/pIe/ie/daily/19991120/ige20002.html

I hope this is what you had asked for.

If this is it, then please do contact the bank with which you already have an account. They might give you additional discounts since you already are their customer.

But just dont take their word. Shop around & get the best deal.

Important:
Please do ask all the banks how easily you can withdraw your jewellery when you need them.

Good luck.

Answer 2

In India and outside, gold market is always in boom.
You can now buy gold coins or bars/biscuits from various authorised banks and dealers. So, if you too are touched by the yellow fever, well, you could satisfy fascination by keeping some gold coins and bars with you.

Incidentally, don't be mistaken into thinking that buying ornaments is the same as investing in gold. In practise, gold converted into ornaments is rarely sold. Thus, though gold ornaments are a liquid asset their sale usually entails a heavy loss. The making charges are a total write-off. Then, too, your jeweller may take undue advantage of your predicament and buy back the ornaments at a discount.

Check these sites for more information:


http://in.rediff.com/money/2004/jan/08perfin.htm
http://www.rediff.com/money/2005/feb/19perfin.htm

Answer 3

you can deposit gold in state bank of india and you will get gold a/c with the present value opened. you will get a intt and will get the market value of the gold back when you need.. you are protected of the market changes.

Answer 4

yes