Monday, December 12, 2011

Buying gold jewelry for Chinese New Year

Many years ago, when gold was cheaper in price, mothers would go shopping for gold jewelry for their daughters and for themselves in time for Chinese New Year.

Back then, crime was also less heard of. These days here in Malaysia, even wearing a gold chain has to be done discreetly so as not to attract undue attention.

Back to present-day, gold price is now at more than US$1700 an ounce and people wear less gold jewelry for fear of it being snatched on the street. However, gold is still a preferred investment for its increasing value, a hedge against inflation and the declining currency devaluation.

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