If you were in any doubt as to the attraction of gold as a safe haven asset during these times of unrest, the World Gold Council reports that investment demand reached a seven-year high this week, sparked by escalating political tensions.
The Royal Mint says that its bullion division recorded a 572% increase in sales revenue and a 416% increase in typical order values last weekend – figures it directly attributes to the attacks in Iran and unrest between that country and the USA.
Louise Street, from the World Gold Council’s Market Intelligence team says this is happening elsewhere too, highlighting the value of investing in gold now to mitigate against risk. She notes, “Consumer research confirms that this is far from being just a UK phenomenon. Our global survey of 12,000 retail gold investors from North America to China, via Germany, India and Russia, showed that 44% of investors who had bought gold in the last 12 months did so in response to risk factors. And gold was their top choice of investment product with which to manage risk, ahead of even government bonds.”
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