Asian consumers saving for a rainy day double down on gold as prices soar

Ms Endang Kusumaning picking out gold rings at the Melati Gold Shop in Bali. She is shelling out $270 for three modest rings. PHOTO: AMILIA ROSA
New: Gift this subscriber-only story to your friends and family

BALI — Ms Endang Kusumaning looks focused as she is picking out gold rings at the Melati Gold Shop.

The 43-year-old’s handicraft business – teak artwork – was hurt after she lost most of her overseas clients during the Covid-19 pandemic.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.