Gold continues to be safe investment during pandemic

Energy Monday 22/June/2020 17:29 PM
By: Times News Service
Gold continues to be safe investment during pandemic

Muscat: Despite the uncertainty in the prices of many commodities during the COVID-19 pandemic, gold continues to be a safe option for people to invest in.
It has managed to prove its trustworthiness by strengthening its position even during these times, having appreciated 27 per cent in the last one year, with the price per ounce on 19 June 2020 being $1,745 as compared to $1,379 on 19 June 2019.
The ease to liquidate the metal for cash without losing value even during these difficult times has further increased its dependability.
“Considering the all-time favorability of gold as a value-appreciating lifestyle article, it is the best time now for consumers to invest in the metal and ensure savings,” said Najeeb K, Regional Head – Oman, for Malabar Gold and Diamonds. “We have reopened a few of our stores across Oman, following all safety precautions.
“Considering the current health concerns, we have taken all precautionary measures to deliver a safe shopping experience to our customers, including frequent store and surface sanitisation, practicing social distancing, employee safety checks, safe billing and jewellery sanitisation after each trial,” he added.
Another jeweller in Oman said they were allowed to open only once they had put in place all of the health checks stipulated by Muscat Municipality.
“We recently opened our shop in Ruwi, but needed to take all of the precautions they needed us to before we could reopen,” he said. “We await customers in our shops, because gold has always been and continues to be a safe investment. It can be readily converted into money, and is easy to carry.”
“We are required to conduct sanitisation processes in all of our shops – many of them have not opened because they are in malls, and we are waiting to be notified as to when we can open them. We also conduct regular check-ups for all our employees – that is part of the routine we have adopted at present," he said.