OIn times of turmoil and whenever most investors know that it is time to take a look at precious metals. With the recent conflict in Ukraine, The Melbourne Royal Australian Mint reported that it has been experiencing double the inquiries for bullion.
Gold is regarded as a barometer to measure fear or the stability of the economy. Every time there has been some sort of economic upheaval, the go-to investment assets has always been precious metals like silver and gold. This is happening right now.
You will find a stream of people who want to buy gold bullion Melbourne. The amount of money individuals might be willing to spend can go up to $100,000 which is the rough estimate for a gleaming bar of gold bullion.
These gold bullion bars can be bought and taken home or stored in a dealer’s vault or some other private safety deposit box. Buyers of gold bullion have to consider the safety and security of their assets. A simple home safe might not be the way to go. If you are going to spend over $50,000 on gold you can rest easily having it stored at a vaulting facility that has all the security features to keep thieves out and your bullion safely secured. They may have more than hard to crack vaults with fingerprint and facial recognition protections and other tight security infrastructure.
Spot price of gold in the past year
In the past year, the spot price of gold in Australia has risen by 19.2% in one year alone. The price has had a lot of ups and downs with expectations that it would go up at some point. With the rise in inflation gold is becoming more appealing to investors who want to safeguard its purchasing power.
The global financial crisis in 2008 signaled the beginning of an era of continual high demand for gold. It was a game changer, enforcing the general view about how to invest money to ensure long term financial security. There are several things that happened in the world that turned the economic system upside down but gold held steady, even making gains in hard times.
There are more people particularly in Australia looking to buy gold bullion Melbourne, especially now that a lot of people have learnt more about gold and the importance of having a diverse investment portfolio. After the 2008 financial crisis it became clear that money would not be safe in banks. People have learnt that banks can fall and that not every financial institution has its customer’s interest at heart. Cash, is at a higher risk of being affected by inflation than precious metals like gold and silver.
The increasing demand for gold has fuelled a surge in exploration activities in Australia. According figures from the Australian Bureau of Statistics, mining explorations rose from $1.3 billion to $1.6 billion in one year. Australia is one of the world’s biggest gold producers, mining about 320 tonnes of gold.
Now more than ever, gold is highly regarded for being the safe-haven asset that anyone can rely on, especially anyone looking for long-term investments that are protected from inflation or the treat of a recession.
Gold prices have been on the rise in recent years, with demand for the precious metal increasing in times of economic uncertainty. This increase in demand has led to an increase in the price of gold, making it a more expensive option than other investments. Many investors believe that this increased demand is due to the fear of economic recession, and that when the economy picks up again, the demand for gold will decrease. The recent global economic slowdown has many people looking to save their money in any way possible. Some are turning to gold as an investment because of its stability. In demand for gold is on the rise, especially in the United States.
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