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Gold has always been synonymous with wealth, and even today many people choose to invest in gold. Physical gold allows investors to minimize their risk by storing it outside of the banking system. Gold is a universal currency and offers a stable investment alternative to other forms of investment. Over the years, the price of gold has increased considerably.
In 2016 alone, it rose by 14% per ounce. In 2018, the Central Bank saw a rise in gold demand by 4%. With China increasing its gold reserve and the uncertainty around Brexit, there has been a rise in the gold prices in GBP. Even before this, gold has been seen as a safe haven for investors and also provides a reasonable way to diversify their portfolio. Even though the price of gold may be volatile in the short-term, they can maintain their value over a period of time. Also, you can enjoy significant exemptions by the government, if you are planning substantial gold investment.
People also call gold as crisis commodity as it has been able to hold its value over political or financial uncertainty. When there is global tension, or people start to lose their confidence in the government, gold investments tend to rise. Since the US dollar is getting weaker, tangible assets such as gold will see a rise in its value. The value of gold is not set by the government unlike other tangible assets such as currencies. In the first quarter of 2019, countries such as Iran, Turkey and India saw a growing demand for gold. In the UK, the demand grew by 58% in Q1 following the original deadline for Brexit.
If you require money and have gold coins or gold jewellery, now is the right time to sell it. You can use the gold price calculator to see how much you can get depending on the carat and the weight of the gold.
