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A LOT that glitters is gold and now is a good time to buy it.
INVESTMENTS in gold are likely to increase this year due to escalating geo-political tensions around the globe and the prevailing economic challenges.
GEORGE TOWN: The Penang Goldsmith Association (PGA) is projecting the value of Malaysia’s gold jewellery exports to be about RM4bil for 2018, a decline of about 40% from the RM6.7bil achieved in 2017. PGA says decline is due to 5% value-added tax imposed by UAE.
PETALING JAYA: Gold appears to have regained its lustre in recent weeks, as the US dollar continues to weaken.
The price of gold may have dropped 26.16% over the last two years, from a high of US$1,889.70 in August 2011 to US$1,211.60 an ounce in August 2013, and demand may have declined too, but the exit from the gold market has largely been from gold-denominated ETFs (exchange traded funds) with demands for physical gold remaining very high.
NEW YORK: Hedge fund Paulson & Co in Q1 maintained its stake in SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund as bullion prices rebounded from their biggest annual loss in 32 years in 2013, while PIMCO dissolved its gold ETF investment.
THE low price of gold, which is now at about US$1,238 per ounce, has caught the attention of even my doctor. The topic of discussion was whether it is a good time for his wife to shop around for some jewellery.
IT IS hard to admire the density of gold without beholding a lot of it at once. Taking pride of place in a museum in Bishop Street, Penang, is a solid gold brick weighing 50kg worth RM7.5mil for tourists to lay their hands on.
SINGAPORE: One of the most popular questions at mining conferences is what is your top metal and why are you bullish on it. The clear winner so far this year is gold.
LAUNCESTON, Australia: If the adage “follow the money” is to be applied to commodities, then currently the place looking most attractive to investors is gold mining.