SINGAPORE - Gold shops have seen a drop in customers of at least a 30 per cent recently as gold prices surge to record highs.Mr Ramanathan Palaniappan, director of APJ Abiraame on Serangoon Road, told The Straits Times:"The number of walk-in customers have dropped a lot, and even if they do come in, they are buying smaller amounts of gold - for example, only 5g instead of 10g.
The record high gold price has also been driven by concerns over tensions between China and the United States. Mr Dheeraj Gottimukkala, business development manager for the Malabar Gold & Diamonds chain in Singapore, said that both of its outlets are getting only about a third of their usual number of customers before Covid-19 hit.
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