Independent Financial Life Planners Bishop's Stortford: Gold holdings

Tuesday, 18 August 2015

Gold holdings

As is often the case in times of trouble that European investors snap up gold. In the second quarter as the troubles in Greece threatened to push the country out of the Eurozone a recent World Gold Council (WGC) report said "Fears of a potential Greek exit from the Eurozone saw retail investment in gold reach 47 tonnes, a rise of 19pc compared to last year," Alistair Hewitt, head of market intelligence at the WGC, said the European bullion market had gone from being "non-existent" to becoming the "world's leading bar and coin market." The increase in Europe was led by Germany, where sales of bars and coins rose 24pc to 24.1 tonnes in the second quarter.

Gold is often considered to be a safe haven in times of market turbulence but Mr Hewitt said a greater number of retail investors were buying smaller quantities of bullion. "Many of the coins being bought are in smaller denominations, which we can contrast to the financial crisis, when there were larger denominations being bought. What this says is that many of the people who were looking to gain exposure to bar and coin are the smaller retail investors.”

"People are looking to protect their wealth," Mr Hewitt continued. "Wealth is eroded in many ways, it could be through high inflation, currency weakness, it could be that people want to hedge their risk. Gold plays a really strong role in this.”

If you are looking for the best ways to protect your wealth and manage it through all weathers Enable’s experienced IFA’s in Bishop’s Stortford are here to help.

Issued by: Enable Independent Financial Life Planners  25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339  Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

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