Articles
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Think of holding gold Security from future price hikes
Gold is looking brighter with every passing day. It has remained so in the past, and the future has more than its share of the glitter. Traditionally, the Nepalese people used the yellow metal only for jewelery, both to augment their wealth and as a status symbol. It was expensive in the past, but in recent times the price of gold is increasing by leaps and bounds. Despite the high price, there is always a queue at the jewellery shops. Nepal does not have gold mines of its own, nor does it have enough gold reserves to fulfill the ever-increasing demands. Urbanisation seems to have helped in amplifying gold demands. Billions in foreign currency reserves are going out of the country every year to import gold to meet the increasing demand. We have been using gold as jewellery from ancient times, but our government or central bank doesn’t have enough gold reserve to fight inflation or to meet the public demand.
They never think up to buying gold at falling prices and earn profit after the price hike, as they don’t seem to be interested in this business.
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