I managed to save enough to buy 30 grams of gold. I did consider waiting for the price to come down, but oh well. Long overdue purchase!
Edited to add: I was looking at my earlier posts.. Wow! Just over two years ago, i was dreaming about having enough money to purchase 30 grams of gold that year(2008).
Yipeee… 2 years ago
I am going to the post office to buy gold! I am still trying to get over it- The Indian post office is selling gold bars 4 years ago
Finally, progress.. I have started focussing on this goal again. I hope that by year end I can buy 30 gms of gold. It will be a stretch; If I had started this a couple of years ago, I would be in a much better financial position. I would have been able to sell the gold to get myself out of the sh** I got dropped in. 4 years ago
Last few months – Nada!
Am officially on the road to financial trouble. Not working, caring for home & hearth is tough.. 5 years ago
Okay, not exactly buying gold… I invested in a gold exchange traded fund. It is the first time I am entering the commodities arena.
But starting next month, the purchase of gold as per my goal shall happen… I hope so 6 years ago
I think buying gold makes sense. It may prove to be a great investment strategy, may provide a hedge against future insecurities, etc, etc.
But I have a very simple reason for adding this to my list. My parents were rather poor when I was born. Usual story – Extremely educated, poor paying jobs, two kids in quick succession, misunderstandings with parents/in-laws.
I have two older brothers and they still remember some of the difficulties and rationings. I don’t. All I remember is I had a very happy and simple childhood. I don’t remember lacking for anything. Growing up, I have been told how my mother and father saved money. By the time I was into my teens, we were truly back where my grandparents were- middle class/upper middle class.
The point is my grandparents and my parents have told me often that with the little that they earned, they put away a tiny portion towards gold. My mother would save that and deposit it with a jeweller so that she could when the time came, she would be able to average out the price changes and buy some form of jewellery. Those were not the days of buying gold bars or bricks.
By the time I was ready for a relationship/marriage, My parents had accumulated a decent quantity for me. I don’t know whether knowing that was there was why I never felt any deprivation during my growing up years. Maybe the confidence and awareness it gave my parents made the way I was brought up different from my brothers. All I know is, that is precisely what I want to do for my future children. I want to save gold; I don’t claim to know much of macro or micro economics. All I understand is it may provide stability at some later date when it is needed.
I hope I can sincerely work on this goal. It is starting to mean a lot to me. 6 years ago