Global market situations have drastically changed due to COVID-19.
Industries and markets are locked down, Share markets falling down.
In such a situation Gold seems to be a good and safe investment portfolio. Against any situation or in crises Gold can be a Good Cover.
Nowadays it is time to buy gold, as investors are looking for a safe solution.
Coronavirus disrupts the market situations so that gold is in demand stage but there is a shortage of supply.
Retail dealers have a shortage of Gold Bars and Small Gold Coins supply, reported on 02 April 2020.
Due to high demand and big shortage, dealers of Gold are looking for those people who want to sell their valuable asset, 10-15% flat premium offer on the current price by them, Reported on Thursday by Bloomberg.
Mark O’Byrne, founder of Dublin based dealer GoldCore was quoted as saying that ” We have a buyers’ waiting list and we emailed our clients seeing who wished to sell their gold. At this time there are roughly only one or two sellers for every 99 buyers,”
Mark Krall, CEO of German precious metals retailer Degussa said in the history of Gold he has never seen such demands and high premiums.
Current trading is $1590 per ounce at press time.
Goldman Sachs said b last week that it is time to buy Gold “Both the near-term and long-term gold outlook is looking far more constructive, and we are increasingly confident in our 12-month target of $1800/toz,” it added.
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