The gold trade is benefiting from the global turmoil

Some believe that gold trading is a safer and more stable investment than, for example, equities and fund savings. Especially when the world is hit by major unrest such as the corona pandemic. 

- Historically, gold has been used as money for thousands of years. It has proven to be a good preserver and a protection against inflation if something should happen to the local currency, says Juha Miettien, sales manager at the gold trader Tavex.

The effects of the corona pandemic on the world economy have forced countries to introduce various stimulus packages. It increases the amount of money in the economy, which risks lowering the value of people's assets. Therefore, many people choose to "convert" their money to gold in order to reduce the risk of losing money.

- Now that there is so much uncertainty about what will happen this autumn - if there is a second wave of viruses - then you are very willing to own an asset that is not dependent on a counterparty, says Christoffer Ahnemark, analyst at Aktiespararna. 

But unlike other assets, you get no interest on gold, something that is seen as a negative aspect of buying the precious metal. But on the other hand, you do not get a negative interest rate, which can pay off in the long run, according to Ahnemark. 

The growing interest in the gold trade has therefore led to new record prices. Today, an ounce, about 31 grams, is worth about 17,000 kronor. One kilo is worth just over SEK 540,000.

The gold trader Tavex has therefore seen record sales of gold in the form of investment objects such as coins and ingots.

- We have seen a lot of new customers during the corona, as many have opened their eyes to gold as a safe asset, says sales manager Juha Miettinen. 

The trend is expected to continue. 

- There is nothing to indicate that global uncertainty will be lower in the near future, but the opposite. It is messy in the US, presidential election this autumn, and I think more people will be interested in the precious metals sector, says Christoffer Ahnemark.