World Gold Council Unveils Gold Retail Market Insights

SEATTLE (Scrap Monster): The World Gold Council (WGC) published results of the recent survey conducted among 18,000 people to analyze the global buying patterns and attitudes across retail gold markets across the world. The research was carried out in key markets including India, China, the U.S., Germany, Canada and Russia.

According to the survey, gold still continues to be regarded as a safe, durable, traditional store of value. Gold is the favourite of retail investors, who buy it to protect their wealth and create long term returns. Jewellery buyers attribute sentimental reasons for purchasing gold. The global presence of gold is underlined by the fact that nearly 50% of retail investors and fashion and lifestyle consumers have purchased gold at one time of other.

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Gold is more trusted than the currencies of countries. In fact, 75% of investors in India trust gold more than currencies. The percentage of investors who trust gold in China and the U.S. are 69% and 60% respectively. Also, the support for gold in comparison to currencies among German investors stands at 57%. More than 60% of those surveyed noted that gold is a good safeguard against inflation and currency fluctuations.

The WGC survey also shows that 51% of global investors believe that gold can bring good luck. The emotional attachment and attitude towards gold are mostly stable across generations, although gold jewellery has become less popular with younger consumers in teh age group 18-22.