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Updated 06:50 25/09/20

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Gold: The best insurance policy?

Duncan Richardson, News Editor
16 Nov 2015, 12:54 p.m.

Despite a falling gold price record numbers of private individuals are buying gold and silver bullion, as fears of a global slowdown increase.

The anticipation of a U.S. interest rate hike has boosted the U.S. dollar and put downward pressure on the gold price. The gold price fell last week to a new five year low of $1,083, which equates to a 43% fall from its September 2011 all-time high of $1,900 per ounce.

However, low prices and unpresented intervention from the world’s central banks is attracting investors to the yellow metal. Gold has been money for over 5,000 years and is the ultimate insurance in times of economic and political uncertainty.

Global demand for bars and coins rose by 33% in the third quarter to 295.7 metric tonnes, primarily led by a 70% increase in Chinese demand. Demand in the UK jumped 67% to 2.5 tonnes according to the World Gold Councils latest report.

First and foremost investors want to preserve their capital and gold has played this role for centuries despite paying no income and costing individuals to store. After 43 years of fiat currencies it appears investors are once again returning to the yellow metal.

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