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Gold as an asset? Russia also thinks the same.

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Do you regard gold as an asset? I do. I think gold earrings for my wife is a good investment even if I have to pay extra for the design. I mean gold as an asset always appreciate, right? In 1999, I still remember I bought a 916 gold earring for my wife. If I remember correctly (I may not), the price was around RM30 per gram. Price today is like… 8 times higher. If only I bought a few kg then? Haha. I did not.

Recently, I bought an 916 gold earring for my wife. I think gold should keep its value and by the time she gives it to my daughter (though the design would look dated by then), the price should have become much higher. Anyway, gold is loved by many as an asset and this is true for all Malaysians and not just me. There’s one country who thinks of gold as an important reserve even when compared to the US Dollar.

gold as an asset
Photo by Pixabay on Pexels.com

Article in bloomberg.com. Russia’s is keeping more gold than U.S. assets for the very first time on record. Within its $583 billion international reserves, gold made up 23% as at end June 2020. The share of dollar assets have dropped to 22% from more than 40% just 2 years ago in 2018. This change is part of a broader strategy outlined by President Vladimir Putin to “de-dollarize” the Russian economy and lower its vulnerability to U.S. sanctions amid deteriorating relations with Washington. Gold is now the second-biggest component of the central bank’s reserves after the euro, which makes up about of a third of total assets. About 12% of the stash is in yuan. Do read the full article here: Article in bloomberg.com.

Perhaps gold as a gift is really a good gift

Think about it. A designer handbag versus some gold jewellery? A new smartphone versus some gold jewellery? Haha. Do not cringe okay. I do know that everyone would have their own desired choices. So, do go ahead and buy that handbag or that smartphone. Both are fine. Just remember that the same earring I bought in 1999 for my wife is worth like 8 times more today. Come to think of it, why did I not buy a few kg then??!! Haha. Happy loving gold. Oh yeah, I do think Russia will continue to love gold too, definitely not the US$.

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