Gold still remains one of the safest investments. But with international gold prices shooting up, it has helped spawn a whole industry based on gold as collateral.
Gold prices in the international market spiked up over the last few months with investors seeking refuge in the priced commodity as a war in the Gulf looked imminent. rn
rnGold and other precious metal prices went up as money left faltering stock markets worldwide. The commodity has always been a safe haven for investors fleeing uncertainty.rn
rnThis has helped spawn a whole industry based on gold as collateral.rn
rnThe local pawning industry, which has been growing at double-digit figures, is capitalizing on some of the safest investments maintained by the public.rn
rnBorrowing Rs. 50,000 over the counter is no easy thing when you have little to offer as collateral.rn
rnEven if you had, all the procedural delays and paperwork could take days if not weeks. rn
rnBut when markets are given the freedom they come up with inter