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The Economy & You

The Economy&You - Tekena Koko

Many of us feel that gold is way out of reach, and it is only for the affluent. What we don’t realise is that Gold is traded all over the world, in small units of measurement; so you don’t have to buy a gold bracelet, you can simply buy as low as 1gram! This level of affordability makes gold accessible to small and medium sized investors. These investors would usually be SME’s who wish to save some of their cash earnings, but find that typical bank deposit rates are much lower than inflation, and the Stock Exchange is perhaps rather volatile, and at this time bearish. Investment in gold as an asset is a real possibility. Over the past month the price of an ounce of gold increased by 9%. This is a pointer to the intrinsic value of the metal. Nigeria is not just blessed with gold deposits, but an active market for gold as a fashion accessory.


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