Wed | Dec 13, 2017

Invest NIR in gold bars

Published:Monday | October 2, 2017 | 12:00 AM

THE EDITOR, Sir:

It is so pleasing to know that at last check, our net international reserves (NIR) are at record levels. This is such an achievement to be proud of as a nation.

But as a hedge against the country's economic instability, I wonder if the minister has ever considered Jamaica investing in gold bars. Rich nations have invested in such commodities and are able to withstand the harsh economic uncertainties over time. I strongly urge Jamaica to look into buying gold bars from our increasing NIR.

With gold prices at low levels for years, hovering around US$1,550 per troy ounce, I can only see it rising beyond our expectations within the coming years.

This can only be a win-win situation.

WESLEY THOMAS

wesleythomas@ymail.com