Gold a safe bet for Saudis despite VAT increase

SourceArab News
SectorOil & Gas
CountrySaudi Arabia

JEDDAH: Gold plays a dual role. It is an investment and luxury commodity in times of economic prosperity, but also a haven in times of crisis. Gold may be able to play a role in restricting the economic damage caused by the COVID-19 pandemic, as precious metals are considered a tool for hedging against inflation and depreciation. Unlike other commodities like oil, gold has been universally accepted as a form of payment and has a power surpassing that of any other commodity. It has the ability to control the expansion of credit and is a favorable hedge against inflation. It can also function as a safe bet against declining currencies. Salah Salem Al-Amari, general manager of the Salem Hasan Al-Amari Sons Co., has more than 35 years experience in the world of gold...read more...