KUCHING: Gold savings for the long term are seen as relevant as the economic condition of the precious metal continues to remain at favourable price levels.
Chegu Aiman Gold company director Aiman Abdul Hamid said gold has strong long-term savings value, especially amid steadily rising gold market conditions.
“Looking at gold’s performance at the beginning of this year, prices were around RM400. Now, they have reached about RM590, nearing RM600.
“Therefore, long-term savings are considered very worthwhile. In fact, even a period of one to three years can already yield good returns for gold savers,” he said when met by Sarawak Tribune recently.
Meanwhile, he explained that gold prices may decline in the future.
However, he said prices will not fall back to early-year levels of RM400 as long as stock markets remain unstable and political tensions persist.
“Investors will feel hesitant to invest in unstable stock markets. So, they will choose to invest in and save gold as a safe investment.
“When many people buy or invest in gold, demand will increase while supply decreases, which in turn causes gold prices to rise.
“In addition, a weakening US dollar will cause foreign countries to purchase gold at cheaper prices, increasing demand and subsequently pushing prices higher,” he explained.
In another development, the public is invited to purchase gold at Chegu Aiman Gold, which is currently offering attractive sales promotions.
“The public can enjoy a 50 per cent discount on workmanship charges and a RM10 per gramme discount on gold until December 31.
“Visit our shop to enjoy prices that are RM10 cheaper, valid only until the end of this year,” he said.
