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Why the rate of Gold Coins differ in all Nationalized Banks?


  1. #1
    Seema pal
    Seema pal is offline eTI Iron

    Why the rate of Gold Coins differ in all Nationalized Banks?

    I am looking the statistics of Gold and figure out something which quietly shakes my mind. My question is when i was checking the prices of gold coins in various categories like in 2gms, 4 gms and so on. Most of the bank are offering it at different prices. If buying from a bank which offers 4 gm of gold coin at least value, will create any future complications. Please explain all these stuff as soon as possible.

  2. #2
    kittycriston is offline Newbie
    Gold coins of different weight units such as 4 grams, 8 grams and 10 grams at most competitive rates.

  3. #3
    swapnilramani's Avatar
    swapnilramani is offline eTI Iron
    See in this competitive world and fast moving world where everyday in and out new competiton arises, banks too have to maintain a tandem to tackle the competition from other banks around them, so they have differing rates for every weight of whether gold or even if you go for currency exchange, you may find similar kind of situation coz each and every commercial as well as nationalized banks have been give their own powers to decide what rate to be kept for the inventory like gold coins, or gold or cash etc they possess, RBI doesn't intervene in their price decision. And well for your question, I don't think purchasing gold coins at less cost from any bank that is providing you at less cost will make any difference or lead you in any problem, you should not worry about it, go for the purchase of coins.
    P.S. : I may be wrong, we have experts in our panel to solve your query, let them take an opportunity to answer, but still I don't feel you may get in any kind of problem as far as my knowledge for the same is concerned..

  4. #4
    Commodity Tips
    Commodity Tips is offline eTI Member
    I am fully agree with swapnilramani. He has given a satisfactory answer.

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