Gold Price Inflation ? What do you want to do?
1) I still keep the jewelry receipt when I want to get married in 2001. Buy 916 gold (22k) for RM 37/g.
2) This means that the spot price of 999 gold at that time was about RM 31/g only. The spot price of gold is now around RM 257/g. This means an increase of 8.3 times or 729% over 21 years, equivalent to an average increase of 34.7% per annum.
3) In other words, if I worked and was paid RM 10/hour 21 years ago, I needed 200 hours of work to buy the jewelery which was worth around RM 2,000 at that time.
4) Today, I have to work 1,660 hours (8.3 times @ 729%) to buy jewelery of the same weight, if the wage paid remains RM 10/hour.
5) However, if today I want to use the same working time period of 200 hours to buy the same jewelery, I have to receive a wage rate of RM 82.90/hour.
6) This is the dilemma that plagues everyone in the world today. They have to work overtime to maintain their declining purchasing power because the current wage rates they receive are always unable to offset their previous purchasing power. Thus it is not surprising that we see human beings today becoming increasingly busy because they have to do various tasks (?????????), simply to meet the needs of life. For those who take the short cut, this will create other social problems such as crime, prostitution, corruption, neglect of children, and others.
7) The main cause of this happening is the effect of the increase in the amount of currency supply that is constantly created by banks through the creation of credit, and the federal government through the issuance of bonds and spending the state deficit.
TIPS FOR BUYING JEWELERY
Today I didn’t have time to write and do anything sharing anymore. Busy helping existing customers grab the CNY dealer promo that will end today. There are also those who just want to start saving. So there are many questions. It’s good to ask a lot so as not to get lost.
The more knowledge about an investment the lower the risk of loss. And again high potential for profit. So today I first share tips on buying jewelry so that you do not lose when buying. This is very important in investing. No loss when buying.
Jewelry is not suitable for investment due to high spreads. I’ve explained before. However, jewelry has a function as jewelry and can be used as a gift. Jewelry is still profitable in the long run just make sure you don’t buy it wrong.
Don’t look for cheap ones for fear of low purity or gold salute. Make sure the gold is 999 or mean 916 because the authenticity below from this can definitely not be leased/pawned. Wanting to sell will also be a problem later, especially if it is bent or damaged. Please share so that our friends do not lose gold.
If you also want to buy jewelry, be sure to follow the tips below. Want more tips and knowledge about gold, just follow my telegram channel. I have a share also means spread and how to calculate the spread near the comment space.
If you want to buy jewelry from a cheap factory online, I recommend buying PG Jewel near PGMALL. The reason for this is there is insured postage and there is a repurchase guarantee. Your damaged, broken, or bent gold can be resold on Public Gold at any time. Just click the link below for the survey
WHO SAYS IT’S UNFORTUNATE
Buy gold and save?
Look at the picture I shared.
In the past, 6 years ago, 1 gram of gold cost RM166, but after 6 years, the price today is RM266/gram.
The percentage increase is 60%!
If we divide 60% by 6 years, then the AVERAGE percentage increase in gold price is 10% per year.
In the last 6 years, most of the well -known investment institutions in Malaysia have not yet given a profit return of 10%. The majority is around 5.5% to 7% only (if not accurate please correct).
But for all you know, even from the point of view of numbers (RM), the price of gold seems to go up (profitable) but instead you have to understand that the “purchasing power” of gold remains the same.
For example, if in the past the purchasing power of 1 dinar (4.25 grams) in 2016 RM701 could get a goat, in 2022 the purchasing power of 1 dinar RM1127 can still get a goat.
The number of goats did not increase but the number of goats remained the same with 1 gold dinar (4.25 grams)
If someone talks about saving gold, it means that he is investing in gold just to make friends and there is no knowledge about the investment. It is not gold that makes us rich but the knowledge of gold. Read books, attend seminars and study
“The more u learn, the more u earn”
If you want to open a gold account with public gold, you can click this link. No need to go to the branch for registration and can deposit gold immediately in the GAP gold account or make gold purchases in cash.
After registration free guidance will be provided and accompanied by an E-book.