In this article we will discuss on fall in Gold price for year 2017.As Bank rate is stable at 9% per annual, and gold is not showing any sign of improvement.We predict that gold price may fall below Rs 20000/- in next few months say after the marriage season by end of June 2017.
Why not to purchase gold in year 2017, I will give one example to both the one who already have purchased god at lower price and one who is willing to make new purchase.
Reason why gold price is falling that quickly
Suppose you have purchase gold at Rs 20000/- and present gold price is Rs 26500/-.As per the Gold trend the gold rate will be around Rs 27000/- for next year, so you make only Rs 500/- profit for keeping gold for 1 year ( 500/26500X100= 1.88% p.a).
If you have sold that Gold and deposited same money at national bank than your profit will be Rs 2385/- ( 9% of Rs 26500).
Gold kept for one year = 26500+500= 27000/- (profit of Rs 500/-).
Gold sold and keep fixed deposited at bank = 26500+2385=28885/- (profit of Rs 2385/-).
There fore after Five years Gold price will be around Rs 17000/- in India.
Sale old Gold and make profit from Bank Deposit
My this Article is specially to give advise to poor people in Karnataka and Goa not to invest in gold instead resale old gold stock with you at home and deposit same in Bank.Many people in Village are poor as they purchase excess gold and keep and not earning any interest.I advice then to deposit the money in bank.
Everyone have bank account in India with debit card in Villages of Goa and Karnataka in the city of Hubli and Vasco
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