Gold has been a very attractive investment over the past two years. Whether it’s because of subzero interest rates or the volatility in the global financial markets, investors are pouring into gold as a safe haven and an opportunity.
One set of investors that’s definitely taking advantage of gold right now are the Japanese, according to a new report from London-based investment service, BullionVault.
Due to fears that their net worth will depreciate because of inept central banking policies (debasement of the yen and negative interest rates), Japanese investors are purchasing gold and storing it in Switzerland.
The online and trading firm said that the number of gold buyers in Japan soared 62 percent in the first half of 2016 compared to the second half of last year.
“Many of our Japanese customers think it’s too risky to hold gold bars at home and they want to keep them in Switzerland because they are anxious about the future of Japan,” Atsuko Sato Whitehouse, head of Japanese markets, told Bloomberg News.
Although demand for gold has remained strong for the last 20 months, the jump into the yellow metal skyrocketed soon after the historic June 23 Brexit referendum. Gold even reached a two-year high last week. Silver has also been climbing as it jumped above $21 per ounce recently.
Year-to-date, gold has risen 23 percent, while silver has spiked 43 percent.
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