{"id":777038,"date":"2024-06-16T11:00:00","date_gmt":"2024-06-16T09:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=777038"},"modified":"2024-06-14T17:48:11","modified_gmt":"2024-06-14T15:48:11","slug":"south-africans-are-turning-to-gold","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/777038\/south-africans-are-turning-to-gold\/","title":{"rendered":"South Africans are turning to gold"},"content":{"rendered":"\n

There is increased demand for Krugerrands amongst South African consumers amid the high price of gold. <\/p>\n\n\n\n

FNB said that it has helped deliver over 2,200 Krugerrands on its trading platforms as consumers embrace alternative asset classes to diversify their portfolios. <\/p>\n\n\n\n

The bank holds over R1 billion work of coins in its portfolio on behalf of its clients. <\/p>\n\n\n\n

Sebastian Pillay, Head of Share Investing at FNB Wealth and Investments, said customers diversify their portfolios to hedge against unfavourable market conditions.<\/p>\n\n\n\n

\u201cKrugerrands are linked to the international value of gold, which means that the investment is protected from local currency volatility and devaluation. Therefore, this makes it a global asset class that you can rely on in a good market environment as well as in times of uncertainty,” said Pillay.<\/p>\n\n\n\n

“Moreover, the recent surge in the gold price has led to a significant increase in demand for Krugerrands.” <\/p>\n\n\n

\n
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Gold R\/kg
<\/figcaption><\/figure><\/div>\n\n\n

During global market uncertainty and slow economic growth, gold has maintained a reputation as a haven asset.<\/p>\n\n\n\n

Some investors buy gold as a sentimental investment, while others are extra cautious about financial market movements and buy Krugerrands as a sense of comfort. <\/p>\n\n\n\n

Thus, Krugerrands are a prominent safe-haven asset for many investors when considering their exposure to gold and are often used as a hedge against inflation and currency fluctuations.<\/p>\n\n\n\n

\u201cKrugerrands are highly liquid in the South African market, making them a preferred choice among seasoned investors and collectors alike, and are considered a legal tender in South Africa, but their real value lies in their gold content,” said Pollay. <\/p>\n\n\n\n

“Whether acquired for portfolio diversification, wealth preservation, or numismatic appreciation, Krugerrands continue to perform in the realm of precious metals and serves as a cornerstone investment in precious metals.” <\/p>\n\n\n\n

\n\n\n\n

Reads<\/strong>: Markets give the thumbs up to GNU in South Africa<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Amid global uncertainty and slow economic growth, gold has maintained its reputation as a safe haven asset. <\/p>\n","protected":false},"author":95,"featured_media":777043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[76,26],"class_list":["post-777038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-fnb","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/777038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=777038"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/777038\/revisions"}],"predecessor-version":[{"id":777049,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/777038\/revisions\/777049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/777043"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=777038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=777038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=777038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}