Nov 01, 2013 10:00 PM
59945 Views
Recent Gold market, no one will be ready to invest any more on Gold. However I wanted to expose my bad experience with GRT.
During 2011, I wanted to invest on gold and so I approached various shops and finalized 2 shops.
- GRT T Nagar
2 Saravana Gold palace- T Nagar.
During 2011, GRT was charging 3% waste+ 1% tax, where as saravana was charging only 1% tax. But GRT told they will not charge anything while we sell it back / return back the coin to them for cash( not exchange) - they told that they will take for market price without any deductions. Saravana was saying they would deduct 2%.
Actually this guy is genuine till date. Today I realized.
By looking gold, I was not impressed with Saravana and went to GRT and that is the mistake I have done. I should have gone to Saravana on that day itself. So I purchased 50 Gms on 2011 for 2585 rs per gram and 4% etc. Again I did mistake by purchasing gold coin of 50 gms in Tambaram GRT by 2012 for 2878 rs per gram and 3% etc.
Now I wanted to buy one property and considering the gold prices are going down, I wanted to sell those 100Gms. I approached GRT for selling and I was shocked to know that they are charging 2%. It is ridiculous, they cheated me, they are cheating our hard earned money.
My humble request to Gold investors - please never ever go to GRT for coins. Of course, right now 24 ct gold coin selling is stop and soon may be 22ct gold coin selling also will be stop. But this GRT is cheating the public by giving false commitment.
Saravana charges only 3% - 1% when we buy and 2% when we sell it back. GRT charges 5 to 6% - 3-4% when we buy and 2% when we sell.
I asked GRT, 6% loss is non tolerable, why you gave such false commitment while selling as there wont be no deductions. GRT answer is, it is government rule. I asked again at lease for GRT customers, they can take back the coin for same price without deductions, for that GRT says, please give your suggestion to the suggestion box.
For this cheat, I wish - GRT will loss all its reputation soon in the market and it will go away from the market. GRT - count your days.
My friend approached Tanisq to exchange the GRT gold chain for new. Tanisq did not accept the GRT gold saying that is not KDM and that mix lot of other metal / forgot the name. My friend said, GRT is only for Rasi and collections but otherwise they are money takers.
Past 4 years, I purchase gold only from GRT. But I am not GRT customer anymore.
-Disappointed looser by GRT
