Will Rupee Devalue Further? Economic roller coaster

[Nabs]

Sole purpose of such local sealed bars are stashing 'black money'.

lol, no! What an uneducated statement.

Gold is not top choice for stashing black money. Foreign currency, prize bonds and cash are mostly found in NAB raids. Selling gold is not that simple, while foreign currency and prize bonds are as good as cash.

[qwertypoiu]

🤪 so when do we start to purge? Go out rob and kill anyone everyone?

[anon36782927]

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[HellsGuardian]

What makes you say that about stock market? I think stock market indicators are good

[anon36782927]

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[HellsGuardian]

i do agree that there are big factors manipulating stock market, obviously its not that simple otherwise we would all be billionaires? however i don't think stock market is on verge of nose dive

[capsat]

@NABS you are correct

The gold to hide black money is for uneducated Saudagers n tajir class .

The so called educated Businessman 🤠 do The money laundering play with off-shore accounts 🤫

[salmanshah1]

Gold buying advice these days?

[ziaullah08]

Currently Gold is trading at 1915$ / ounce which came down after touching 2060$/ounce. There are some global factors that can impact on gold (ex. us elections and post-covid economy receovery). If you read kitco news, you will learn a lot, Its an interesting thing. Earlier some pundits were predicting gold to reach 3000$/ounce before december but its not sure (only Allah know what will happen in future). however my observation is that its current phase is correction (going down and may go down little more) and then will rise up (so risk chances for short-term investor are higher).

Some one was asking from where to buy (kind of invoice-non-invoice issue). Well I myself belongs to goldsmith family so for us its non-issue - normally we do keep our long term savings for purpose of (Kids Eduction and marriage) in form of 24K gold bars - so for us its kind of safest (Note. i am not interested in listening of lecture to put my saving in bank and FBR related issues - these are secondary things and usually I do resolve with the help of my tax consultant).

[HellsGuardian]

As you mentioned you are goldsmith so its easy for you but any suggestions for common buyer?

[ziaullah08]

They can purchase from any trustable jeweller (for 24K available in 10 tola bar - its fixed rate every where and no polish waistage or labour-cost etc

[salmanshah1]

I do not have a trustable gold dealer and there is no reliable company in Pakistan as well as far I as I know. If you have any suggestions then do share here.

[ziaullah08]

normally i deal through Haroon sharif jeweller of "Sowey bazar - rung mahal lahore" and there are some gold testing laboratires in Rung Mahal and Old Anarkali market which deal in trade of Gold Pieces. I do not know in which city you do live, but if u r totally newer (can not differentiate between Origional Piece and fake piece (we call gold bar as Piece), then please find some senior wise person in your family or friend circle who can help you.

[mgalaxy3]

Some one was asking from where to buy (kind of invoice-non-invoice issue). Well I myself belongs to goldsmith family so for us its non-issue -

But do you know anyone who sells it n issues invoice or receipt.. that's the issue

[ziaullah08]

yes - all jewellers give invoice to its customers on every purchase.

[Xulfiqar]

Some one was asking from where to buy (kind of invoice-non-invoice issue). Well I myself belongs to goldsmith family so for us its non-issue

??

Myself (regular Pakistani mango man) have bought these gold pieces without issue from retail jewellers in sarafa bazar complete with invoice and cert. I dont think any jeweller in their right minds will sell a piece without paper trail.

[HellsGuardian]

How to you make sure you're not getting ripped off?

[mgalaxy3]

yes - all jewellers give invoice to its customers on every purchase.

For jewelry yes but not for bars

[ziaullah08]

There is no reason for not giving invoice for Gold-Bar, I never faced an issue . Can you please explain with more details - that which jeweller refused to give invoice and what reason he told ?

[capsat]

@mgalaxy3 you need to deal with right people having a reputation in trade.
which city you are from

in rawalpindi there is a bullion dealer operating 3 shops within 1 km radius. Haji Mohammed Rafeeq Saudager is name of grand father sons & grand sons manage the business. They have reputation of over 65 years in trade. his brother have 2 shops in Law_hore in rung mahl area.

in Karachi you can visit Zaibunnisa street 5 shops New era, hameed sons, new ruby, Hussian brothers Kiran Goldsmith, Madras Jewellers & Tariq Fareed are masters of this trade. Over Tariq Road Tariq Jewellers & Motiwala have good reputation

every item of metal they sell they provide an invoice