The Pure Gold Company
The Pure Gold Company’s Josh Saul reviews the sales surge of gold as the US/North Korea Standoff intensifies.
Sales at gold investment firm The Pure Gold Company increased by 125% August 9th as tensions between the USA and North Korea intensified, heightening concerns that an attack could have significant adverse consequences on financial markets.
CEO Josh Saul said: “Over 65% of all physical gold purchases came from financial services professionals, including those in banking and accountancy, concerned that global equities will be hit if relations between the US and North Korea deteriorate further. The stock market slid yesterday and the gold price increase by more than 2% on the back of President Trump and North Korea’s exchange of words.”
“We saw a 64% increase in people purchasing physical gold for the first time citing the breakdown of international relations. Many fear that as allies, the UK are also susceptible to being dragged into an unnecessary and unwanted conflict. We see many of our new enquiries and clients using the opportunity to protect themselves against an uncertain future, especially given the unpredictability of both President Trump and Kim Jong-Un.”
“Over the last two days, we have also seen a 72% increase in people removing exposure to global equities within their SIPP and pension to purchase physical gold within the same vehicle. Clients who are within a few years of their retirement are concerned that their pension could lose considerable value because of the threat of war and conflict. Pensioners don’t have the luxury of time to wait for their stocks to rebound after a potential equity crash and so the general sentiment is that many would rather convert their gains in the stock market to take advantage of gold investment which is still 20% lower than its peak of 2012. Our clients are not purchasing physical gold to necessarily grow their wealth, the objective is safety, security and wealth preservation.”
Source: Entrepreneur & Investor