Golden chance to buy gold
30 PER CENT JUMP IN SALES: Dip in gold price is a windfall to buyers and investors
KUALA LUMPUR: JEWELLERS here recorded a 30 per cent increase in their sales after the public rushed to buy jewellery because of a drop in gold prices.
The price of 916 gold ranges between RM125 and RM130 per gramme while 999.9 gold is around RM127 per gramme.
Malaysian Indian Goldsmiths and Jewellers Association president Abdul Rasull Abdul Razak said the price of gold was at the lowest for the past three months.
"The fluctuation in the price of gold has been a windfall to the public, who are scrambling to buy it."
Rasull, who owns a jewellery store in Lebuh Ampang, said the drop in gold price had attracted investors to buy.
He said it was not known how long the price of gold would remain low but people who bought gold at higher prices should not be worried as the price of the metal would eventually increase.
"Many new gold mines being discovered around the world are among the reasons for the drop in gold price.
"However, the volume of gold will someday be depleted if new mines are not found." he said.
Another jeweller, Senthil Kumar, 33, said he had more than three customers a day compared with only one before the price of gold dropped in October. He said his customers were interested in necklaces, bracelets and earrings.
"The price of 916 gold is sold at only RM130 per gramme compared with RM180 three months ago, a price which people can't resist."
KUALA LUMPUR: JEWELLERS here recorded a 30 per cent increase in their sales after the public rushed to buy jewellery because of a drop in gold prices.
The price of 916 gold ranges between RM125 and RM130 per gramme while 999.9 gold is around RM127 per gramme.
Malaysian Indian Goldsmiths and Jewellers Association president Abdul Rasull Abdul Razak said the price of gold was at the lowest for the past three months.
"The fluctuation in the price of gold has been a windfall to the public, who are scrambling to buy it."
Rasull, who owns a jewellery store in Lebuh Ampang, said the drop in gold price had attracted investors to buy.
He said it was not known how long the price of gold would remain low but people who bought gold at higher prices should not be worried as the price of the metal would eventually increase.
"Many new gold mines being discovered around the world are among the reasons for the drop in gold price.
"However, the volume of gold will someday be depleted if new mines are not found." he said.
Another jeweller, Senthil Kumar, 33, said he had more than three customers a day compared with only one before the price of gold dropped in October. He said his customers were interested in necklaces, bracelets and earrings.
"The price of 916 gold is sold at only RM130 per gramme compared with RM180 three months ago, a price which people can't resist."
The low price of gold attracts many to buy the precious metal. Pic by Farizul Hafiz Awang
New Straits Times
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