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NSEL scam

Discussion in 'Investment Analysis' started by vijayraghavs, Aug 17, 2013.

  1. vijayraghavs

    vijayraghavs New Member

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    Hi Shabbir,
    After seeing another scam in Indian Financial markets am afraid about my gold ETF investments. When NSEL was getting opened somewhere in 2011, I was thinking to open an account and buy 1 gm of gold every month for my daughter's marriage in future (now she just crossed 3 yrs). The provision with NSEL was that, we can exchange our e-holdings for physical gold any time. So, I was excited and interested. But, thanks to my procrastination. I did not do that.
    However, now and then I have brought some SBI gold ETF and Goldbees ETF in NSE and accumulated a small chunk in my DP account. Now, am worried what if the similar thing happens in NSE or to my gold ETFs in next 20 years? Is it fool proof? How can I safeguard my ETF investment?

    Beyond all, this news has encouraged my wife on her view of 'against E and pro physical gold'. She is pushing me hard to convert it into physical. What should I do?

    Thanks in advance for your reply.
    Vijay
    9972171073
     
    vijayraghavs, Aug 17, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    No you should never invest in ETF for such long horizon and I have explained that here quite some time back.

    Always it is better to take the pain of managing the precious metal in your bank locker than to rely on anybody else to do that for you.
     
    shabbir, Aug 17, 2013
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