Not the time to buy jewellery as prices will likely come down

NEW HIGH: A goldsmith wearing a protective mask arranges golden bangles as the other talks to customers at jewellery shop in Istanbul. - Reuters

UNLIKE what many may perceive, a rise in gold price is actually a reflection of the poor state of affairs in the underlying economy.

Gold is a flight to safety when there are fears of the economy going into a period of stagflation. It is a period when there is high inflation, high unemployment, low economic growth and low demand.

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