Skip to main content

GOLD hits $1000 an ounce, Rs.16,000

Gold futures hit the key $1,000 mark for the first time in nearly a year, as global financial worries boosted the safe-haven appeal of the precious metal. In recent action, gold for April delivery traded at $996.80 an ounce, up $20.30, or 2%, on the day. It earlier touched a high of $1,000.30. Gold for February delivery, the near-month contract which registered little volume, was last up $20.10, or 2%, at $996.60 an ounce on Globex.

Locally Gold prices set yet another record of Rs 16,000 per 10 gram in line with the surging global bullion markets on speculation that the global recession will deepen further.

Market analysts said the demand of the yellow metal picked up after the global equity dropped in the recent past.They said, investors find no other option but to park their funds in the precious metals, while physical buying for the current marriage season declined substantially.

Gold in the year 2008 outperformed most asset classes and has provided a 32-per cent return on investment.The compounded annualized returns on investment in gold in the last five years ending 2008 have been 19 per cent. In 2009 till date, gold price has appreciated by more than 12 per cent and still going stronger.


  1. It seems that gold was the only one that wasn't much affected by this recession.

  2. hi there! This is Makoy of the Certified Pinoy Blogger. I am inviting you to join The Big Mak Contest with $200 cash prize! Aside from the cash prize, I am giving away 108K EC, ad spots, domain, hosting and a special prize. Visit for more details. I hope you can join! thanks!

  3. Gold is always affected by a recession. But not in the way you'd think. The more valuable gold is, the less valuable the dollar is. The American dollar is suppose to be matched to gold (the gold standard), but seeing as how we were taken off the gold standard and the federal reserve prints money out of thin air, it's no wonder gold is "more valuable". In reality, it's not the gold that is more valuable, but the dollar that is less valuable.

    Personally, I see gold as more of an insurance policy than an investment. It would be good to have something of real value when the dollar completely tanks.


Post a Comment

Popular posts from this blog

Your Bill Amounts Are Going To Increase From June 1, 2016

Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, 1994. Union Finance Minister, Arun Jaitley, in his budget announcements proposed to impose a cess, called the Krishi Kalyan Cess, @ 0.5% on all taxable services. The present rate of service tax will be hiked to 15 per cent from June 1, 2016, from 14.5 per cent. Take a look at what gets expensive:

Phone Bills: Your phone bills are going to go up. So, pay a good 15 per cent now on service tax on phone bills.

Restaurant Bills :If you are dining in a restaurant that already has service tax applicable, you are going to pay more on your eating out. Though 0.5 per cent on a single bill may not mean much, frequent diners may end-up paying a lot during the year.

Travelling: You will have to pay more for air travel, as there is a service tax on tour operators and travel agents.

What is Gold ETF - Gold Bees, Reliance Gold,Kotak Gold

What is Gold Bees or Gold ETF?

Gold ETFs are open-ended mutual fund schemes that will invest the money collected from investors in standard gold bullion (0.995 purity). The investors' holding will be denoted in units, which will be listed on a stock exchange.They provide returns that would closely track the returns from physical gold in the spot market.

An investor can buy and redeem the units either directly from the mutual fund or from the stock exchange.Presently there are many Gold ETFs traded in NSE India. Some of the listed Gold ETFs are GoldBees,Reliance Gold,Kotak Gold,UTI Goldshare

Why choose Gold?
Gold holds its own in any investment evaluation on its strengths as a hedge against inflation, value in the event of political uncertainties and its traditionally negative co-relation with other asset classes such as stocks, fixed income securities and commodities.

The value of goods and services that gold can buy has remained stable unlike currencies that have seen significant…


NIFTY BEES - is the first ETF (Exchange Traded Fund) in India, which seeks to provide investment returns that closely correspond to the total returns of securities as represented by the S&P CNX Nifty Index. It gives you the most diversified exposure at lowest possible unit size. Approximately value of Nifty bees will be 1/10th value of the prevailing Nifty price.

ETFs are one of the latest financial innovations and any new concept takes time to be known widely. Globally it took more then five to seven years before it could be of any significant size. In India, it was introduced with Rs 21 crore in size , a fraction of the mutual fund industry, it has come far with more than Rs 700 crore in size with six ETFs.

The Nifty BeES also scores over other index funds due to its low tracking error and expense ratio, apart from easier tradeability as it is listed in the NSE. One can also consider doing an SIP in Nifty BeES.

Some of the reasons to invest in Nifty Bees : Investing in Exchange …