Selling gold?

[nsalam]

Re: Selling gold?

I would say to sell it … having to pay zakat on it every year must also be difficult. I have about £30,000 worth of gold which I never wear apart from diamond earrings … I am also thinking of selling it and using it to extend my kitchen :)) … I have three girls buit I seriously don’t think they will ever wear gold … these days people hardly wear real gold anymore …

@Southie

Gold is at a high, has gone up 7 fold compared to 7 years ago. If OP can find a reliable dealer and get cash at close to fair price, I dont see why OP should not sell the Gold she does not need or use. Historically, Gold has barely kept pace with inflation. From these levels, the rate of return would logically be even lower.

As for if $20-30K would make a difference in buying a house, sure it will. with current housing prices being much lower than they were in 2005-2007, and Gold being much higher, this seems like sell high and buy low situation.

There are always investments that are attractive - right now the European stock market looks attractive. Or just buying CDs or bonds with laddered maturity - 6 months, 1 year, 2 years, 5 year - could also be a good strategy. If rates go up, you can put the maturing CDs or bonds in longer terms ones.