Interest in gold shoots up in Czech Republic
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Loading... - Honza Kohout
- 11 May 2022
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Interest in gold has skyrocketed in the Czech Republic this year, the business daily HospodáÅ™ské noviny reported on Tuesday, saying this reflected a worldwide trend.
The volume of investments in the precious metal has risen by around 50 percent this year and could have been even higher but for the fact demand in Europe is outstripping foundries’ ability to keep up, Roman Pilíšek of the company Zlaté rezervy told the newspaper.
The head of the firm Golden Gate CZ, Libor Brůna, said that demand in the first two months of the year had been very similar to that seen in 2021.
However, in March and April interest in physical precious metals increased by no less than 50 to 100 percent, Mr. Brůna told HospodáÅ™ské noviny.
Golden Gate CZ achieved sales of CZK 2.4 billion in the first four months of this year, around 713 million more than in the same period last year, the firm said.
The catalyst for the increased interest in gold was events linked to what is happening in Ukraine, Mr. Pilíšek told the daily. Investors are also responding to higher inflation, he said.
HospodáÅ™ské noviny said nervousness on the financial markets could also be a factor. Investors and savers are shifting their available monies to the safe haven of precious metals, Mr. Brůna said. Read More...
