For many years, gold has been seen as the ideal haven asset in times of socioeconomic turbulence. This is due to it being a globally recognised currency, of which value will never drop to zero, unlike shares or funds, highlighting it as a timeless asset.
It has been used as a currency for centuries, as well as being used in jewellery still to this day, because of its well-known chemical properties which make it ideal for these uses: it doesn’t corrode, so it can stand the test of time, and it can be heated, melded, and melted into a liquid over a normal flame.
With recent global unrest, such as the unforeseen COVID pandemic and country wide lockdowns, government debt and rising unemployment, many have chosen to invest their wealth in physical gold, due to it offering the best insurance in protecting wealth.