Pawn shops see 'gold rush'
By Ng Puay Leng | Posted: 10 August 2011 2004 hrs
SINGAPORE: With prices of gold at a high, some pawn shops in Singapore have reported a 20 to 40 per cent increase in transactions.
But this also means gold retail prices have climbed.
Those in the business said more are turning to the metal as a safe haven for investment as the global financial situation becomes more uncertain.
Pawn shop staff said enquires about gold have also risen.
ValueMax Group operations director Yeah Lee Ching said: "Because gold prices have increased, many people realise they can pawn their gold accessories for a higher value."
-CNA/wk
- wong chee tat :)
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