"How to Buy Gold" Hits a Google Record as Crypto Investors Chase World’s Oldest Asset
Gold is in vogue during this period of increasing uncertainty. A recent ,article in the Wall Street Journal confirms this observation.
After a period of crypto enthusiasm, some investors are trading the roller coaster for the relative stability of gold. Google searches for "how to buy gold" have hit their highest recorded level, and the SPDR Gold Shares exchange-traded fund (a form we do not recommend as the right way to own gold...) has gained 20% in the past six months. Sales of American Eagle gold coins have been high, and gold prices have been nearly flat in the past year.
Investors are shifting their portfolios toward gold, with 10% to 15% of the portfolio no longer an exception. ,BFI Bullion, just like other precious metals dealers, has been busy selling gold and silver coins and bars due to the crypto decline and stock-market turbulences. What can be seen too, is that people are trading crypto's meteoric gains and plunges for the stability of gold, which also has the advantage of being "beautiful in and of itself" and able to be densely held in one's hands.
As a reminder by BFI Bullion: It’s not just about adding precious metals to your portfolio. It’s about HOW you do that. Paper gold and silver products – those with claims, no physical backing, and even most unallocated forms – may not protect and grow your wealth as desired. In a financial crisis, these forms of ownership bear some of the same flaws as crypto and fiat.
Source: Wall Street Journal, "Weary Bitcoin Investors Chase Shiny New Object: Gold," 21 April 2021, https://www.wsj.com/articles/weary-bitcoin-investors-chase-shiny-new-objectgold-21f8a6ee?st=owtgoczbz0a13nu&reflink=desktopwebshare_permalink.