By : Mohamad Ashaari bin Awab _K.B.;P.A.

Gold has been used since ancient times, as early as prehistoric times. Gold has also been reported in some old documents that state gold was used as a decorative item.
Besides its decorative use, gold has long been considered the most precious metal, and its value has been used as a standard for many currencies throughout history. Gold has been used as a symbol of purity, high value, sovereignty, and above all the role associated with those attributes.
Now, gold is also an option as a deposit for long-term investment. Through this sharing, the writer would like to share six advantages of using gold as a deposit.

1. STABILITY OF GOLD VALUE
Gold is known as a long lasting asset in the global market. This is the main advantage of gold storage in Malaysia, because despite price fluctuations, gold remains a stable asset and has a high intrinsic value.

2. SAFE AND EASY TO STORE
Gold storage in Malaysia is safe and easy to store because there are recognized and trusted institutions that provide safe gold storage and available throughout Malaysia.

3. LONG TERM INVESTMENT
Saving gold in Malaysia can also be a long-term investment. For example, in 2000. M.nasir one of the popular artists who used gold dinars as dowry when he married Marlia Musa. Their dowry was 13 gold dinars of which the value of 1 gold dinar at that time was only RM153.00. The 13 gold dinars are worth RM2000. If we do a simple calculation, in August 2000 the value of 1 gold dinar is equivalent to RM153.00, and now in March 2023 1 gold dinar (4.25 grams of 999 gold) is worth RM1138.00 (after deducting the 9% spread). This proves that gold can be used as a long-term investment with high profit potential.

4. EASY TO SELL
Gold reserves in Malaysia are easily resold in the market and there are many active sellers and buyers of gold. There are also recognized gold producing companies such as Public Gold, Maybank and Yapeim Gold that provide safe and insurance-protected gold trading platforms.

5. INFLATION PROOF
Gold is not affected by financial crises or economic instability, so it can be a guarantee for your financial security in an unstable economy. Gold is also known as inflation proof. For example, the ratio of 1 goat and 1 dinar (4.25 grams of 999 gold) can be said to have remained the same since 1400 years ago until now. With 1 dinar gold today, we are still able and reasonable to buy a goat even though there are many types and sizes of goats.

In conclusion, gold is one of the best long-term savings and investments. However, the author would like to advise all readers who want to start saving gold to learn more about saving gold first to make sure we don't get entangled with get-rich-quick schemes or scams that use the "name" of gold to deceive you.

Date of Input: 27/02/2024 | Updated: 27/02/2024 | ayna