LET US SELL GOLD

The question on the lips of everybody in India is whether to buy gold at these prices. It is time to think differently and decide. It is not the time to buy gold but yes sell gold.
India has an estimated 50000 tons of Gold in private holdings form. The Gold prices witnessed unprecedented rise due to global financial crises. However according to forecasts, like the oil price crash, gold price too is set to register a fall in the coming months. Gold price is expected to touch $700 per ounce in November 2009, which will be almost 30% off from the recent peak of $1000 per troy ounce.
The gold price already started retracting. It is on every body’s mind as to whether to buy gold or sell gold at this juncture. The high gold prices already made India the leading consumer of gold world wide into a net exporter. India is the major country that drives the demand for gold. With agencies like IMF getting ready to offload some of their gold reserves to en cash the booming gold prices, gold price is likely to fall by significant levels.
It will be prudent to sell the gold held in private hands and wait for the crash in gold prices before we buy gold. This time when you sell gold, keep it in the form of cash so that you can buy gold when the prices decline. An advice to those holding gold in the form of jewellery is that next time when you buy gold, you buy in the form of hall marked gold coins, so that they get a very good price when you chose to sell, unlike the jewellery items which are bought at discounted price.
So make good returns on your gold holdings instead of keeping them as illiquid assets