Is the fear of a stock market crash behind investors rushing to buy gold?
Why are investors buying gold in the middle of a market turmoil? Amid the market turmoil at the start of this week, retail investors flocked to the safe haven asset of gold as they wrongly feared stocks would continue to sink. Bullion trading on the Royal Mint’s website shot up by 336 per cent on Monday compared to the average throughout the year, with the number of investors transacting rising 53 per cent. This left precious metals buying outpacing selling by a ratio of 5:1, according to data provided to City A.M. In the frenzy to buy this week, men accounted for 81 per cent of gold purchasers, above the average of 75 per cent for the rest of 2024. This looked like a return to the old stereotypical gold buyer, where 90 per cent were men just a few years ago. For more on the story 👇 https://www.cityam.com/all-that-glitters-is-gold-investors-flock-to-safe-haven-bullion-amid-market-turmoil/ Get more of City A.M. 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: http://www.linkedin.com/company/cityam