Demand for gold through the roof as war – and rising inflation – create anxiety.
Fear of the economic consequences of the Russian invasion of Ukraine – and long-term inflation at home – has led to a surge in demand to buy gold in NZ. Tony Coleman, director of New Zealand Gold Merchants, says gold sales have doubled compared to a regular trading month. “It’s out of this world and right up there with the biggest month we’ve ever had.”
How to cushion the coming financial fall-out
Shares, property and crypto are falling & inflation rising. Stock markets have been dropping by 7-8 per cent this year, whereas, prices of gold have been up by 7-8 per cent. What do investors do? Is it time to invest in gold?
FOMO is over. Now the world is on the road to high inflation and the highly undesirable consequence of erosion of investments – bringing that ancient symbol of wealth, gold, more into play.
A hard financial winter is coming, says gold and silver investor with an unusual story to tell.
You could say Irene Buchanan perceives a bleak future in the next decade or so – stagflation, crippling debt, civil unrest and a depression which, if it doesn’t last as long as the infamous downturn of the ‘30s, will cut just as deep.
That’s why 45-year-old Buchanan (not her real name, changed to protect her identity) has bought, and is buying gold and silver from New Zealand Gold Merchants.