Jakarta. People flocked to buy gold for investment at Pegadaian's Galeri 24 in Jakarta following the Eid holidays.

Gold has grown in popularity as people try to look for safe-haven investment instruments amid uncertain economic conditions. Galeri 24, a subsidiary of the state-run pawnbroker Pegadaian, allows customers to choose gold bars that range from 1 gram to 1 kilogram in denomination. There are also baby gold types with denominations from 0.001 grams to 0.5 grams, various jewelry with a variety of designs, customizable souvenir gold, and even 12.5-kilogram gold bars.

Galeri 24 reported that enthusiasm had soared high across all its outlets in Indonesia, including the Salemba Jakarta branch after the Eid holidays. Amanda was among the customers who were looking to invest in gold.

“I was wondering how I could save money after receiving my [Eid] bonuses. If I put it in my bank account, it would likely be spent quickly. So, buying gold is one of the safest investment alternatives. At Galeri 24, the gold gram weights are diverse, which allows us to adjust according to our budget,” Amanda said.

 Gold continues to be a favored investment amid global economic uncertainties. Aside from being liquid, gold is resistant to inflation, thus preserving its wealth value. Its price is also expected to continue to rise. 

"Praise be to God. People's enthusiasm for choosing gold as an investment instrument is quite high. On average, 75 percent of the gold purchased at Galeri 24 is in the form of gold bars with denominations ranging from 5 grams to 100 grams, and 25 percent is jewelry,” Pegadaian's corporate secretary Dwi Hadi Atmaka said.

Pegadaian offers gold-based investment products that are easy, fast, and secure, namely Cicil Emas (gold installments) and Tabungan Emas (Gold Savings). Pegadaian also offers gold deposits, which have become popular at Pegadaian's gold bank. Pegadaian also supports the government's efforts to boost financial literacy.