Gold Surge Vexes Asian Officials as Inflation Numbers Sent Awry

Bloomberg reported that statistical analysts are considering removing gold jewellery from consumer price indexes.

The market news is quoted as saying:

In South Korea, gold rings will be dropped from the inflation basket for the first time since 1975 as part of a scheduled reweighting in December, Bang Tae Kyoung, deputy director of the statistics agency, said in an phone interview from Daejeon. “People are now buying gold mostly for investment purposes, and so it should be classified as an asset, rather than spending,” Bang said.

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