Friday, May 12, 2006

Gold or Golden....

Did u see the rate of gold in the market? My God... Its Rs.967 per gram of gold. It has doubled in just 6 months. And thats not it.. it seems to be rising as fast as the heat in Chennai and predicitons are that it will reach as high as Rs.1500..:O

Okay now let me come to the most important questions. What is it about ornament gold that makes it so valuable. Why is it that people attach so much importance to gold. Agreed that it is the most malleable and ductile metal. Agreed that it is inert to most chemicals. But that does not make it so precious or does it..

Now what can we do about the price rise.... Well because of the price rise and the forecast people are buying more gold saying it is an investment. I think we shud boycott gold for sometime.. There are other metals too, that look good on jewellery..

Now dont get me wrong... I am just thinking aloud... wondering if we shud buy gold at all......

26 comments:

Prasanna said...

Vidya,do u think it cld just go upto 1500? And theres no stopping the people from buying gold.There always seems to be a craze for gold items. Its true that it has its own beauty. But even beauty has a price for it right?As long as people are gonna buy gold, irrespective of the price, i m sure the price is going to keep increasing.Heat,petrol and gold are 3 tems which keeps soaring up.

Venkat said...

It is yellow, shiny and it is rare and you have to move so many hundreds or even thousands of tonnes of rock and earth to get a few ounces of this metal hence its cost. Another thing is price of gold and oil are directly correlated. Vidushi pardon me for commenting on Prasanna's comment but heat also has direct correlation to these two products, the more gold you want to mine you use up more petrol which in turn releases more greenhouse gases thereby raising the avrage temperature. Also countries like to play this game from time to time, hoard up gold and then increase oil prices so gold goes up they make money and the cycle repeats itself.

Atticus Finch said...

Hahaha... Now we are talking... Now if only all the marriage parties would agree... :) :)

gils said...

hmm...intha seasonla marriage fix aagi irukara ponungaloda parents ninacha paavama iruku...aninayathuku costly..dbl the rate...sad it is..unless some "gold flu" sort of new virus comes and affects anyone goin after gold...guess the prices might never come down

Vidya said...

@Prasanna - I hope not.. Beauty has a price I agree.. Petrol yes.. limited resource and a very important resource....teriyala pa.. nan right a wrong a nu.. but yosikka vendiya vishiyam

@V - hmmm... now what are u trying to say.. so u or do u not invest in gold?

@Atticus Finch - right.. if only... hmm we cannot do anything at this stage but for our children we can...

@gils - tell me about it ... pavam than.. roomba paavam.. too much importance to a piece of metal..

Sujit said...

I think the rates depend on how easily the element is avialble on earth!!..the tougher it is ther higher the cost is!!.. however has its own place .. due to its attraction of being gold :)).. Since, its costly, the pervative way is to think as investment wherein you dont loose your money or can get it back!!.. odnt know about the rates till you told..

Vidya said...

@Sujit - u dont loose your money? really? u maybe right in some case s but worng in others... But whatever.. My question is do u need gold....

gils said...

hmm..may be adutha olympicsla India neriya gold silver vaangina oru vela viali kuraiya chance iruku ;)

Hermit Chords said...

Completely with you on this. What's the big deal? People work to save, and save to buy gold, and then they just keep it in their cupboards. They never actually sell it when prices rise, so it's not really an 'investment'...

There's so much jewellery that's affordable and beautiful, like wooden earrings...beads..

Sujit said...

gold for ornaments is not necessary but electronics industry needs gold so as a metal it might be necessary.. isn't so?

Vidya said...

Hm....May I recommend Platinum ?
:D

Vidya

Sujit said...

but platinum is costlier than gold :D.. hehe.... and the properites of platinum may not be that gold accomplishes??

gils said...

hmmm...pora poaaka paatha...the day is not far wen people crave for platinum as much as for gold...and guess..both will be as costly...ponnagai ethuku..punnagai irukkanu safea vitra vendi thaan :D

Sujit said...

came to know today.. each satillite revolving around earth has atleast one ton of gold!! in them!!.. very rich naa!!

Syam said...

By the time I read this price has come down...but still as gils said punnagai irukunnu sandosama vitura vendiyathu thaan....

Vidya said...

@gils - he he .. goo thought.. u think thats gonna happen?

@Kaushik - u r right... and wooden earrings have a completely different charm

@Sujit - I am talking only about ornament gold

@Vidya - Sooper... gold e jasthi.. nenga platinum vera solarengale

@Syam- hmm... ungalukku puriyaradhu but not everybody ...

gils said...

oh they are using gold on satellites!!no wonder the prices are sky high :D

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