Gold Horizon

A Malaysian state has, unofficially, turned to gold as a substitute for the US dollar.

A Malaysian state has, unofficially, turned to gold as a substitute for the US dollar. While gold enthusiasts have of late become vociferous in their belief that there will be a flight from the dollar to the precious metal, advocates of a paperless standard of exchange in Kelantan last month launched the gold dinar. According to Top News Singapore, the CEO of Kelantan Gold Trade, which produces the gold dinar and silver dirham, announced, “Now, only the dirham coins are available, but it will be strictly sold to those who want to use it to pay tithe.” The dinar sold out almost as soon as it was unveiled. It is believed that the coins were purchased as an investment, not with an intent to use as currency.

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