Many Still Don't Understand Importance Of Gold Dinar In International Trade

KUALA LUMPUR, Dec 14 (Bernama) -- Many still don't understand the importance of using the gold dinar in international trade compared with the use of the US dollar, said former Prime Minister Dr Mahathir Mohamad here on Tuesday. There are some people who have the perception that the gold dinar could be used like ringgit for the purchase of all goods both in the country or overseas. "Presently, when we buy or sell goods, we use the US dollar. The currency's value is sometimes down and sometimes up. "The value of the American dollar is uncertain and indirectly will affect the country's trade," he told a press conference after launching the Sahara Gold Dinar Run 2012. The gold dinar meanwhile will have value at all times according to the weight of its gold. Therefore, it is important for the country to use the gold dinar for its international trade compared with the US dollar, said Dr Mahathir. "At one time, one ounce of gold was sold at US$35 but now it is sold at US$1,700 which means that the value of the dollar has fallen," he said. --BERNAMA Malaysia