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Investing In Gold Is Experiencing A Surge - Business - Nairaland

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Investing In Gold Is Experiencing A Surge by Ransack: 3:40am On Jun 23, 2020
As stock values rise and fall during the coronavirus crisis, advisors to the world’s wealthy are urging them to buy more gold. The move raises questions about the strength of the world’s financial markets and the long-term effect of huge spending from central banks.

Before the COVID-19 crisis, most private banks suggested that their clients hold none or just a small amount of gold. Now some are moving up to 10 percent of their clients’ financial holdings into the valuable metal.

In India, (a country that treasures Gold more than anything else), for example, Gold price has gained about 20% since the beginning of 2020.  In the thinking of one Indian fund manager, Chriag Mehta, who works at Quantum Mutual Fund, “Globally real interest rates have turned negative. The devaluation of various currencies has reduced purchasing power. This together with trade-related tensions among the US and China should support gold prices”. In Nigeria, the story is largely the same even though Nigerians are not as obsessed with Gold as Indians. But as a safe haven for investment protection and income generation, Nigerians seem to be flocking to Gold Etf in droves.



A look at the recently released NAV Summary report by the Security and Exchange Commission, SEC, for the week of June 5th 2020, indicates that New Gold ETF’s Net Asset Value increased by 144% during the first week of June, 2020 from N1.126 billion to N2.747 billion.  https://kilenra.com/blog/2020/06/23/world-wealthiest-look-towards-investing-in-gold/

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