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Increase In Smaller Gold Bars Recorded: Reports
By Gemexi Team | Jewelry Education- Updated On Mar 23, 2020
There has been an increase in the sales of smaller 100-gram casted gold bars across Asia, according to refiners. This trend is being co-related with the weaker gold price. Refiners said that though the standard practice is to purchase 1 kilogram gold bars, with the dip in gold prices, there is a notable increase in the demand for 100-gram bars.
The trend has particularly escalated in the last six months, noted Spencer Campbell, the general manager of Kaloti Precious Metals of Singapore. Spencer noted that buyers investing in smaller gold bars were especially seen in Singapore and Malaysia – particularly in Little India areas. It must be noted that premiums on gold kilobars across Asia and Middle East have been stagnant for some time and there has been a subdued demand for luxury items as well.
The lower prices are also bringing in investors who had previously steered clear from investing in precious metals. The latest sales figures across the continent indicate that 100-gram bars are selling at slightly cheaper rates than coins, and they also are providing easy access into gold as wealth.
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