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BT EXCLUSIVE

Higher gold prices no boon for pawnbrokers

While the number of clients selling their gold has risen with soaring gold prices, the number pawning has only inched up

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Gold prices hit an all-time high of US$2,000 an ounce in August.

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Ms Yeah (left) says there's a 10-15% fall in the loan amount disbursed from ValueMax's pawnbroking business compared to pre-circuit-breaker, while Mr Ng says there was a drop in client visits as Maxi-Cash's stores shut during the circuit breaker.

Singapore

GOLD prices hit an all-time high of US$2,000 an ounce in August, and pawnbrokers report a trend of people trying to sell their gold. But in general, the pandemic is still a bigger factor in customer behaviour and transaction volume has been relatively low.

Yeah Lee Ching...

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