When it comes to investment, nothing beats gold. Gold can easily be liquidated with no credit risk and its condition never degrades. Proving to be useful yet another time, gold is here to sail you through the difficult times. While other assets such as equities show instability, gold holds the ground strong.
In the current scenario, where world is grappling with a pandemic that has brutally affected countries and continents and businesses are shut down, gold continues to prove its reliability.
A week ago, gold saw an all-time high surge in price and as per the prediction of commodity researchers and business analysts, the gold price will mostly remain high. Besides, the demand of the commodity has significantly increased as more and more people are looking to invest in something that proves to be reliable and stable. There is no denying that the economic condition across the globe is dwindling with a recession likely to hit hard. But there is always a sliver lining and we cannot overlook it.
As the trends show, the spot gold price and the future gold price are at an all time high.
In fact, after the lockdown is over, the sale of old gold will gain momentum as people will be needing cash for their various expenses. Given the uncertain situations that lie ahead of us, with companies being shut and salaries deducted, people will take help of gold to arrange for instant cash.
The selling of gold will not only benefit the seller but will make significant contribution to the industry. Due to the sudden lockdown, all the factories and mines have been closed which will take time to come back on track. Meanwhile, the gold that will be sold by people will keep the industry work going.