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Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby A K Rao » 16 Apr 2019, 18:28

This question is applicable for all the citizens from the World! Today we need to pay the taxes for the gains we are getting out of Gold and also from the Deposits we keep in our banks!

I think it is better today in India to invest in Deposits rather than investing in Gold as the Gold market is going at very slow pace!

May I know your expert opinion about this?
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby Alexandoy » 16 Apr 2019, 22:07

I used to work in a bank so my choice is investing in banks although it depends on what bank because there are problems with some banks particularly the small banks.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby OldGuy » 16 Apr 2019, 23:22

There is a significant difference in where you place your cash between investments and what amounts to insurance.

The world runs on "fiat currency". That is printed paper money that is completely worthless by itself. The only value is created by faith in the government that stands behind it. If you are not the least bit worried by all the world's financial concerns, then you invest what you are able with a goal to make a profit on the investment, whether by interest, dividends or some other potentially taxable gain.

Just putting your money in some low interest bearing bank account is about the lowest return you can get. To make it a bit more frightening, do some studies on the way banks look at your deposits. Once you deposit your money in any bank it legally becomes their property. They will give you documentation that says you have made the deposit, but you actually might never get it back out.

Laws have been changed in the banking world. If a bank has a serious financial loss, they are obligated to pay those losses first, then the stock holders, and if anything is left, the depositors. The depositors are legally the last ones to get anything after any financial disaster. They can take the funds from your account to pay those debts and leave you holding an IOU. It has already happened in several countries.

You might consider buying stocks, bonds or other options, but there is a significant risk of losing everything in a crash. You might consider some form of crypto currency, but that market is very volatile. If the Internet was suddenly no longer available, whether because the government blocks access, or a huge and extended electrical blackout, you could not access it. Losses can be bigger than any potential gains. You might try real estate, but flipping properties for profit requires skill in updating the property as well as marketing and reselling at a profit.

Those kinds of things are investments. As long as you are confident that everything is running along just fine, try to profit where you can. The intent is to find a place to put your cash to work for you as additional profit over and above your labor. They all carry risk that grows greater as the potential profit increases. The more you can make, the more you can lose.

On the other hand, buying gold, silver, platinum and other precious metals is considered insurance. They don't change much over the years and are not likely to produce much of any profit as long as the rest of the world keeps running on fiat currency. You might consider putting something around 5% of your total available funds in precious metals to hold "just in case" the world markets crash.

If you do buy any precious metals, you must be certain you NEVER tell anyone you have it. Keep it a secret, even from your own family. The only reason it may suddenly skyrocket in value is if everything else crashes, and then everyone will be seriously tempted to steal whatever they can find, even if it means killing you to get it. It is not an investment. It is insurance in case of disaster beyond imagination.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby MysticMoons » 17 Apr 2019, 01:49

I would rather put money in gold. Banks have failed. gold have never failed many in all the ages.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby suny » 17 Apr 2019, 02:51

I think it's different for different countries based on attraction for gold and ordinary citizens' interest in gold as a commodity. In India gold was considered an investment until recently but that is no more relevant since you don't have to buy physical gold but invest in gold bonds. However, as the facts reveal that gold is a better investment compared to banks since the purchasing value of cash is going down every year. In some cases if you get an interest 6-8% from bank (which is possible in India only) the value of cash is going down at more than 10-15% per year.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby naxewp81 » 17 Apr 2019, 12:55

When it comes to investments, diversification is key. I considered investing in gold before, but it never came around. I guess I never that interested enough to do it.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby SUPERSINGH » 17 Apr 2019, 14:34

I think investing in Gold would be fine as in Banks we cannot expect to earn much interest but its more safer with banks
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby A K Rao » 17 Apr 2019, 17:26

SUPERSINGH wrote:I think investing in Gold would be fine as in Banks we cannot expect to earn much interest but its more safer with banks


Unfortunately I have invested in Pure Gold in 2012 and since then there has been no big appreciation in the cost of the Gold in the market.I could have easily earned 8,000/- per year which amounts to be 56000/- for every Lakh of rupees I invested then till the date. This is bare minimum simple interest I am talking about which I have lost in investing in the Gold!

--- 17 Apr 2019, 22:58 ---

MysticMoons wrote:I would rather put money in gold. Banks have failed. gold have never failed many in all the ages.


But they are hardly paying anything in return in the form of profit today!
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby skysnap » 18 Apr 2019, 07:26

For me current changes in the economy shows that I should be investing into the mutual funds. And it seems like people are becoming more socialist which is bad for future, I'd invest in gold too.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby A K Rao » 18 Apr 2019, 14:10

OldGuy wrote:On the other hand, buying gold, silver, platinum and other precious metals is considered insurance. They don't change much over the years and are not likely to produce much of any profit as long as the rest of the world keeps running on fiat currency


I agree with you that investing in such metals is like having insurance....In India Gold was not that costly till 2006, there after it has become expensive year by year and it has grown up almost four folds since then! But today the Gold is not growing in its cost for last five to six years which makes it not a lucrative investment but it will just serve as an insurance!
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby skysnap » 19 Apr 2019, 07:53

I have realized that there is definitely some sort of value out of such gold and other metal investment. For me real estate seems to be the one where I wish to invest a lot.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby MysticMoons » 20 Apr 2019, 20:35

If you do put money in a bank put only some money. And put it for a year CD only to earn money. Because things you put in long earn grow a lot, but you can not get the money out. If you do take it out they charge you a huge fee. SO never tie up money you might need one day. Unless it's for your retirement or something.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby katkat » 20 Apr 2019, 23:09

I think if you want to invest then do it in business. And that means invest it in gold. As far as I know the value of gold always goes higher and higher. In bank I think it's more of a saving than investing. Though it depends on the bank. They have some new offers now which cater to the different needs of an individual.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby junrose123 » 21 Apr 2019, 05:18

I believe that it is much better to invest our money in gold as it's value never fade and always goes up every year.
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Re: Today What Is Better To Invest In Gold Or In Bank Accounts?

Postby skysnap » 21 Apr 2019, 07:15

I was recently checking paytm gold. And thought If I should be investing the cashbacks with the paytm gold. I think that is a good option to put the cashback to good use.
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