Are you 35 or under and recently invested in Gold?
You may be part of a growing trend of Millennials investing in Gold as a commodity.
The Royal Mint has recently seen unprecedented demand for gold bullion coins and bars and the demand is increasingly coming from millennial investors, with 21% of new customers to the Royal Mint under 35.
Anyone born between 1981 and 1996 (ages 23 to 38 in 2019) is considered a Millennial (also called Generation Y). The Millennials will have memories of the market crash of 2008 so it is likely they cautiously look to invest in risk-adverse areas such as Gold, particularly during the current pandemic causing such market uncertainty.
Andrew Dickey, Precious Metals Divisional Director at The Royal Mint has commented, “We are delighted to see this recent, significant rise in younger investors. We are keen to support our customers of all ages with their investment options and have a broad range of bullion products on offer including, gold, platinum and silver, in both bars and coins.
“Gold has an established, reliable value anywhere on the globe so it is known as a safe and reliable investment option for investors of all ages but we have also seen a demand for digital gold and are also currently developing our digital precious metals portfolio which we believe will be of particular interest to millennials and younger customers.”
Between 1st March 2020 through to 9th April 2020, over 6,000 new customers opened a bullion account with the Royal Mint, with 21% of these new customers being under the age of 35.
Whilst the industry supply chain has struggled to keep up with soaring demand and logistical issues, The Royal Mint has managed to secure stock of many of its most desired product lines.
Gold and silver bullion have been the investment of choice for individuals, governments and organisations for thousands of years. If you are interested in finding out more about investing in Gold or other precious metals, you can read more here.