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Buy Gold in USA & sell it in India

Discussion in 'General Discussions - USA & Canada' started by charlotte76, Dec 20, 2011.

  1. Dec 20, 2011 #1
    charlotte76

    charlotte76 New IL'ite

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    Hi Friends,

    I am from Charlotte,NC.Moved to USA 6 months ago. It is my first post in this forum.

    I would like to thank moderators of this groups who initiated to help people. It has been very helpful to me since i am here.

    Need more info on gold investment.

    1. Is it safe to buy gold coins here in USA and take it to India to sell. Travelling concerns? Are gold coins allowed while travelling?

    2. Ours is short trip to USA just 1 year. Planning to buy house/apartment in India once we go back. Hence to make our income grow. Plan : Buy gold here in USA and take it to India and sell it when we finalize our house/apartment. It would take probably another year. Hence in a year definitely there gold would be more expensive if current situation is considered.
    Gold buying is just for investments and not for jeweler (I recently got married have enough :) )
    Need your valuable inputs on what are the other factors to be considered ? Have anyone did implement this and made good benefit?
    Is buying and selling price at standard jewelers shops are same? I am planning to sell in a jewelers shop,Blr.

    3. If not gold trade , what are the other options in which we can make our income grow in a year?

    Thanks in advance.

     
    charlotte76, Dec 20, 2011
    charlotte76, Dec 20, 2011
    #1
    1 person likes this.
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  2. Jan 24, 2012 #2
    JustMyself

    JustMyself Gold IL'ite

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    Hello Charlotte,

    Good to see guys planning.

    While I understand, you guys want to save / invest money, buying gold in US may not be the best method.
    Reasons,
    1. Gold is expensive in US than in India
    2. Jewels may be the only 'grey' way of taking gold to India, as you may be able to claim them as personal jewels, but selling them would get you lesser money than you bought.

    If you want to invest in gold, you could do them electronically like ETFs or Gold stocks.

    Am not a financial advisor or anything even closer to that :) but, I do know you could get into trouble if you buy gold coins / bars from US(valid above 5000$) and get it to India without paying customs.
    Other ways to save/invest money,
    1. Buy stock options.
    2. put it in an FD
    3. Send money home to buy gold coins / bar
    4. Save money in your bank account itself.


    Hope this info helps.
     
    JustMyself, Jan 24, 2012
    JustMyself, Jan 24, 2012
    #2

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