Perpetual allure of gold 17 Dec 2020 / 11:21 H.
PETALING JAYA: Jewellers are raking in sparkling profits as the demand for gold continues to rise during the Covid-19 pandemic.
Many jewellery retail chains have reported unprecedented sales during this period as gold, which is seen as a hedge against inflation, retains its lustre.
Since the movement control order (MCO) was implemented in March, the demand for gold has skyrocketed.
The owner of the Kedai Emas Merchant9 in Kuala Lumpur, Nik Haniff Nik Hamid, saw a 100% increase in profits over last year.
He told theSun yesterday that although the market seems to be erratic with the price of gold fluctuating, many Malaysians continue to invest in gold .