The World Gold Council released in November the results of a study that surveyed 18,000 people about how and why they buy gold. We break down the key market insights you should know right now. Highlights include who the major gold market players are, what different age groups think about gold ownership, including millennials, as well as the reasons why individuals turn to gold. Learn more in this episode of USMR Market Insights with Patrick Brunson.
Did 2019 Projected Global Gold Sentiment Become Reality? You Be the Judge! – Video Transcription
Patrick Brunson: 00:00
Gold has had a strong year so far in 2019, with a healthy and impactful performance. As the year draws to a close and we prepare to head into 2020, it's a great time to reflect on Gold's place in the world, specifically how it's viewed by people around the globe. A recent study by the World Gold Council found that confidence in gold is positive among different demographics around the world. In fact, gold's appeal even shines across the generational divide. People of all ages agreed with the statement, “I trust gold more than the currencies of countries”. For example, 56% of people in the age groups of 18 to 24, as well as 55 to 65, agreed with this statement. In total, 61% of people internationally agreed that they trusted gold more than the currencies of countries. Internationally, the council surveyed 18,000 people and of that group, 45% of them considered buying gold as an asset for future growth potential and have already bought gold in the past.
Patrick Brunson: 01:02
There was another 38% that were considering doing the same but had not bought gold yet. The reasons given by those who were surveyed were very different. 37% of them bought gold for good returns in the longterm. We also have 30% of those who bought gold to protect their wealth. In particular, participants viewed gold as a protection against threats such as currency volatility and inflation. And over the course of a 12 month period, 44% of all gold purchases were made in response to what buyers considered a changing and challenging risk environment within the global economy. The study also found that people trust gold for its financial, emotional, and cultural worth.
Patrick Brunson: 01:44
So for more information, please call the number on your screen to receive U.S. Money Reserve's latest special report, How Much Gold is in the World. This report answers many questions you may have about the world's gold supply. So please click on the link below or call the number on your screen right now to get your copy and give us your thoughts and share this video. If you're watching this from YouTube, please subscribe to our channel so that you don't miss a single episode. I'm U.S. Money Reserve's, Patrick Brunson, and thank you for watching Market Insights.