r2i forum

while there are several banks and private vendors selling gold bars, i would like to purchse from a bank whihc can give a receipt for 50gm bar. how to shop around without having to call? websites dont give updated prices. Any recent experiences? which bank is selling at lowest price? thanks.

If your investment duration is short, why not look at Gold ETFs that track the price of gold closely.. As much as we are able to purchase Gold from a bank, say ICICI Bank, I don't think there is a way to sell the same to the bank when you plan to liquidate.

Can somebody pls give me a link of Gold ETFs in India with a review/their current NAV prices?

old_city_fella;312103while there are several banks and private vendors selling gold bars, i would like to purchse from a bank whihc can give a receipt for 50gm bar. how to shop around without having to call? websites dont give updated prices. Any recent experiences? which bank is selling at lowest price? thanks.

I recently spoke to a few banks (both private and govenrment) to buy 50gms - the cheaper ones were IOB, Indian Bank and SBI. Again they were not very far off-within a range of Rs.500 for 50 gms. I went ahead with SBI because of convenience of having an account there.

OP,
During a recent visit to a Punjagutta-Hyd Reliance Jewelry store, I noticed that they are also selling 50 gm gold bars.
You can call them if you are interested.
Best wishes.

old_city_fella;312103while there are several banks and private vendors selling gold bars, i would like to purchse from a bank whihc can give a receipt for 50gm bar. how to shop around without having to call? websites dont give updated prices. Any recent experiences? which bank is selling at lowest price? thanks.

laks99;323856I recently spoke to a few banks (both private and govenrment) to buy 50gms - the cheaper ones were IOB, Indian Bank and SBI. Again they were not very far off-within a range of Rs.500 for 50 gms. I went ahead with SBI because of convenience of having an account there.

Thanks Laks. ICICI did give a good discount and was better than quoted price of SBI. best.

Hi all,

If you want to buy gold coins/ Bars or silver please go to MMTC. MMTC is a government of India organisation and the purity and safety is assured. It is just opposite Mahavir Hospital at Masabtank ( Infront of JNTU Masab tank). You can call them for a quick price check.


HYDERABAD REGIONAL OFFICE
10-2-1, 1st floor, APFDC Complex, A.C. Guards, Hyderabad ? 550028
EPABX - 040-3394924, 3376900, 3394960, FAX - 3394923
E-mail : [email][email protected][/email]
Coins/Bars can also be bought at Banks,Other Jewelery stores but we suggest you to buy from MMTC. Banks are expensive compared to MMTC or Jewelery stores.

If you need complete reference then visit this link

http://www.dealshut.com/blog/2011/05/gold-buyers-guide/