Observing the Surge in Gold Prices
Recently there has been a surge in gold prices on the world markets. The increase in the price of gold has been remarkable since the global financial crisis (GFC) 2008/2009, which was followed by the great recession.
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Employees of the Sharia Pegadaian Branch Office on Jalan Kramat Raya, Jakarta, use a magnifying glass to see the quality of the residents\' gold jewelery being pawned, Wednesday (29/7/2020).
Recently there has been a surge in gold prices on the world markets. The increase in the price of gold has been remarkable since the global financial crisis (GFC) 2008/2009, which was followed by the great recession. In terms of US dollar, the price of gold jumped from US$650 per ounce in 2007 to US$1,300 in 2017, an increase of 100 percent.
Then it increased to nearly US$2,000 per ounce recently. The following article attempts to interpret this development in order to see its implication and the need for vigilance to overcome any negative impacts on the national economy that may arise.