This is purely for perspective as I am in this situation.
About 2 years ago, my brother was buying 50gm gold bar (20gm or 1oz for me), i saw it multiple times but never took possession, but also we haven't settled the money too (he does maintain an excel of the money i spend from his cards when i travel to the states as well as some money i borrowed when i was purchasing a car). It was about 3800 USD for 50gm when he bought it, and the value is almost double right now.
Recently, we were speaking of our investments and my s-i-l went to tally out the gold we have, and realized this 50gm bar (only) went missing. I have no questions about that, i trust them 100% and we also have a great relationship, tho me and my brother occasionally have emotional drama considering i'm gay.
We never discussed about how it's going to be settled, but I know this conversation should happen at some point. For context, we are Indian and the money discussions could soon turn into arguments and emotional, considering how we are with money, altho i am not money focussed, but about 3500 USD is a big amount and i don't work right now, so it's definitely a hit. Originally i would have paid 1900 USD if we considered 50-50 and the appraised/spot value now is a little less over double.
Any thoughts are appreciated.
Update: I can see the comments and i have to clarify something.
We saw the gold price went down and he was buying for himself, and i asked him to buy 20gm/1oz for me. We both didn't remember how much is mine and how much is his. We recently spoke about it and decided we do 25gm each.
If i didn't pay for it, i don't own it - works in retail lens, but family is beyond that, we take word for many things.
With ref to point 2, i would still owe him for the cost he paid and i won't say you didn't give me the physical gold, so i am not going to pay. The point is, i want to pay the original cost and honor my promise. He is with family, and his kids are my next of kin for all the money and assets I own. It's just a matter of cashflow. I literally gifted a 60gm gold necklace for my S-I-L on their 10th anniversary.
If the opposite happens and the value drops, and if i paid for it and hold possession, i will still hold him accountable for the original cost I paid and i won't cut the loss.
Someone said it's racist - no comments to that! Based on where you're from, you know your own culture, so look inwards before calling someone else this word.