Gold’s Relevance as a Strategic Asset Highlighted by WGC

Gold has an increasingly important role to play in Singapore, especially under these risks and challenges, WGC noted.

SEATTLE (Scrap Monster): The World Gold Council (WGC) published a new report highlighting the relevance of gold as a strategic asset.

The report, with special focus on the case of gold in Singapore, says that the economic crisis from the Covid-19 pandemic is likely to remain as the highest critical risk. The demand and inflation rates are likely to see huge decline, mainly on account of falling exports, lower crude oil prices, rising unemployment rate and sharp decline in the number of tourists visiting the country. This may likely lead to further depreciation in Singapore dollar.

Gold has an increasingly important role to play in Singapore, especially under these risks and challenges, WGC noted. The consumers in the country have long recognized the benefits of gold. The Council called upon institutional investors to allocate a proportion of their portfolio to gold. For investors, gold could turn out to be a superior hedge against economic vulnerabilities.

According to WGC, gold can make valuable contribution to their portfolio, for investors eager to participate in ASEAN region’s growth potentials. Being a safe haven asset, gold turns out to be an attractive alternative to local government bonds. Furthermore, gold could also be used as a hedge against volatile commodity prices.

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