Coronavirus Pandemic Drives Renewed Interest In Gold Among First-Time Precious Metals Investors
New survey from Noble Gold Investments show fears of an economic downtown is the primary motivation for investment in gold and silver; 64% of respondents have been invested in gold for less than two years
PASADENA, Calif., June 16, 2020 /PRNewswire-PRWeb/ -- Noble Gold, a provider of IRA-approved precious metal investments, today announced new data that shows the pandemic and the uncertain economic climate that ensued are among the primary drivers behind investors' renewed interest in gold and silver. According to a company survey of its customers, 58 percent of investors are turning to precious metal IRAs to secure their retirement savings and hedge the risks of a recession.
The survey highlights a common desire to diversify and protect retirement assets among investors since the COVID-19 pandemic sent financial markets tumbling earlier this year. According to customer data, approximately 62 percent of customers have invested or plan to invest more into gold and silver IRAs.
Since the National Bureau of Economic Research announced the U.S. is officially in a recession, Noble Gold anticipates a heightened interest in gold and silver purchases over the next six to twelve months. "The last time inflation was as high as it is today was in 1983 when the price of gold reached $900 per ounce," commented Collin Plume, CEO of Noble Gold. "The same thing is happening now in America. Investors close to retirement have already lived through several economic busts and recessions; to go through another one could set them back five to ten years. We're seeing more investors who are new to precious metals investing begin to take an interest in gold and silver in order to protect their future."
In addition to recession fears, customers cited the projected increased value of gold among the top reasons for investing in precious metals, at 51 percent. Among them, 81 percent are under the age of 65. When asked about respondents' experience with gold and silver IRAs, 64 percent have invested in metals for less than two years. In contrast, 20 percent of customers have invested in gold IRAs for three to five years, while merely nine percent have invested in precious metals for six to ten years.
"There is a growing interest among consumers for protecting their assets in more creative ways," notes Mr. Plume. "Even as the stock market continues its positive streak, economic health will not be felt equally across the U.S. All major industries have seen incredible disruption and loss in value over the last few months. It's likely we'll have tremendous volatility and pullbacks over the next 12 -14 months as well."
About Noble Gold Investments
Based in Pasadena, CA, Noble Gold Investments provides investors with a safe and easy way to buy IRA approved precious metals, including gold, silver, platinum and palladium. Noble Gold exists to ensure their clients' wealth preservation through balanced portfolios featuring precious metals. The company believes in friendliness, honesty, and an in-depth knowledge and understanding of how to increase investment value for clients. The company has secured more than $250 million in precious metal assets and helps clients work toward financial security. Noble Gold has a proven track record in providing advice, service, and value.
To learn more, please visit: http://www.noblegoldinvestments.com.
SOURCE Noble Gold Investments
Share this article