The Precious Minerals Marketing Company (PMMC) is encouraging the purchase of gold jewellery, promoting it as a dependable store of value.
According to PMMC, the value of such jewellery appreciates over time, offering a potential financial cushion during economic challenges.
Speaking to Citi Business News at the opening of PMMC Jewellery Limited’s new shop at the Marina Mall along Spintex Road, Managing Director Nana Akwasi Awuah emphasised that despite fluctuations in the price of gold, investment in gold jewellery is financially rewarding.
He was responding to a question on the increase in gold prices in the recent past and the rippling effect on local jewellers.
“While a jeweller or a manufacturer who is sourcing gold to do jewellery may complain about the rising cost of gold, it will interest you to know that somebody who buys gold as an investment will be happy when they see gold prices going up. It is a fair balance.
“You will need to be able to predict the prices of gold so that you will know when to buy to do your production and when to hold on till prices drop. For those who continue to buy as an investment, they are very happy when they see it [going up].
“I know of people who come here every month. They are with GHȼ1000, GHȼ2,000, GHȼ2,500….what they do is that they come and buy a piece of jewellery and they keep saving. Incidentally, they are the mothers. It is the mothers we find doing that but we want to encourage everyone….mothers, fathers, men, women, young men, young women please invest in gold jewellery and you will be very happy 10,15, 20 years down the line.
“What you bought today at GHȼ5,000 will turn out to be about GHȼ50,000 5-10 years down the line,” Nana Akwasi Awuah said.