Wednesday, 15th December 2004 (2940 views)

Vietnam's Habib Corporation has announced that consumers are taking advantage of its purchase-back programme and are rushing to exchange their gold items.

The price of gold has been increasingly rising and the managing director of Habib, Meer Sadik Habib, told the Edge Daily that consumers are rushing to the store

It is thought that the number of customers using the programme will continue to rise due to various events causing an increase in gold prices.

"Habib expects an influx of consumers to take advantage of its purchase-back campaign by trading their "old" or "outdated" gold pieces and exchange them for cash or new jewellery," Mr Habib said.

Gold trading schemes are said to be one of the most effective investment programmes in the long term and have been practised for a long time.

"By reducing the volume of gold we import and by managing the traded-in gold within Malaysia, not only do we see benefits in currency savings, we are also contributing to reducing an outflow of foreign exchange from Malaysia," he added.

 

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