Describing the relevance of gold as a strategic asset 2021, World Gold Council says, “Gold benefits from diverse sources of demand: as an investment, a reserve asset, jewellery, and a technology component. It is highly liquid, has no one’s liability, carries no credit risk, and is scarce, historically preserving its value over time.”
Data from the World Gold Council for Q1 2021 shows that bar and coin investment was – unsurprisingly – significantly up compared to the first quarter of 2020 when the pandemic kicked in, but was still an improvement on Q4 2020, with 'building inflationary pressures' cited.
Current trends
A spokesperson from Gold Bank London told Asian Voice that after the lockdown, the price went down, which was approximately £200 less.* Many people invested in gold at that time in order to sell when the prices shoot up.
Who is buying gold?
Gold Bank London encourages everyone to invest in gold bars. However, most of their customers fall in the age bracket of 25 to 55 and sometimes go up to age 65.
Given the current economic crisis as well as rising cybercrimes and banking frauds, it is imperative to ensure the security and assess the longevity of the investment, especially among elderly over age 65 who may not be digitally fluent or physically fit to reap the rewards of investments made in the given scenario.
Why youngsters must invest in gold bar
Gold Bank London wants more young people to start planning to invest in gold bars, especially if they’re planning to save money. The investment can be small and systematic and they can start from as low as £65*, to begin with. Buying a 2.5 gram bar would be more cost-effective than buying one gram of gold bar. Gold bars always come in 24-carat gold. Compared to jewellery, there are fewer premiums if you're buying gold for gold jewellery because making charges accentuate the cost along with VAT.
For further information on buying gold bars, you may visit https://www.gold-bank.co.uk/ and check out their ‘Buying Guide’ to make the most out of your investment.
*These figures and costs are indicative and time-bound, therefore, should you wish to purchase any gold items, kindly refer to the latest rates and figures and do your own due diligence.
