,Gold can also be used to hedge against inflation
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IF you had bought a gold chain or bangle two decades ago, the value of that piece of jewellery would have appreciated multi-fold by now, as gold was then trading at only RM989 an ounce.
A year ago, gold prices hit a historic peak of US$2,067.15 (RM8,721.30) an ounce. Gold is currently trading at the US$1,800 (RM7,594.20) range an ounce. It is anyone’s guess if it will hit US$2,000 (RM8,438) again soon.
A gram of gold is worth about RM241.25. Reports said the price of gold had risen more than 330% from 2005 to 2020.
Traditionally, gold is invested in the form of jewellery, coins and bars, and it often passed on from one generation to another as a family heirloom.
Central bankers are also net buyers of gold as it has been an important component in the financial reserves of nations for centuries. Globally, central bankers hold more than 35,000 tonnes of gold, which is about a fifth of all the gold ever mined, a report said.
With increasing sophistication in the financial markets, gold is considered an alternative investment to equity, fixed income and unit trust.
You can even buy investment-grade gold from jewellers or by having a gold investment account at banks, invest in gold mining and jeweller stocks, buy into exchange-traded funds (ETFs) and even bet on gold futures. Gold futures are also traded on Bursa Malaysia Derivatives. Trading in digital gold is also an option.Traditionally, gold is invested in the form of jewellery, coins and bars, and it often passed on from one generation to another as a family heirloom.g
“Gold has been a source of wealth and a highly sought-after safe haven asset for centuries. Gold investment can be used to hedge against inflation and act as an investment diversifier for customers,’’ Maybank Islamic Bhd head of community banking Azzady Jamaludin said.
He said “gold behaves differently (from other asset classes and) during a recession, the value of gold tends to increase as people turn to it as a safe investment option.’’
“Individual investors have also been moving money into gold on a large scale during the first six months of this year. We saw the momentum in the Maybank Islamic Gold Account or MIGA-i when it was launched in April 2021,’’ Azzady added.
The weight of gold is measured in ounces, and its purity is in carats.
If you want to buy this precious metal in its physical form you can do so from jewellers. You can even design the type of jewellery you want.
Besides that, some of these jewellery stores sell gold coins, bars and nuggets.