"With the economy in lockdown and share prices losing 15% inside a month, it's natural for investors and savers to seek a bolt hole in precious metals. Anyone saying gold has no intrinsic value overlooks its use in all ages and all cultures, as the ultimate store of value."Gold may seem productively worthless, but its economic value comes from its ageless social use as a way of preserving purchasing power across time. Physical bullion, unlike a bond or a business, cannot miss a payment or go bust. Nor can it be created at will, unlike government debt or currency."
"The ability to trade securely-stored gold 24/7 at wholesale prices, rather than paying the high mark-ups charged on small bars or coins, has attracted new customers at a rate not seen since the very peak of the global financial crisis."Of course, we'd much rather this strong demand for precious metals was not caused by today's health and social emergency, but we expect to see elevated demand for gold, silver and platinum to continue as long as the impact of the Coronavirus crisis threatens other assets, such as property and shares."