The Royal Mint recently released a statement reporting that it had observed a fivefold increase in the number of young investors partaking in gold investment. The Royal Mint, which produces coins for the United Kingdom and is fully owned by the Treasury, stated that young investors who were attracted to its new digital platform were focused mainly on gold investment. These investments are financed by gold that is stored in the mint’s vaults.
Gold is popular among investors across the globe, especially during times of uncertainty, such as during the coronavirus pandemic. This is mainly because it is considered to be a safe investment as it is a good store of value. The mint, which operates as a limited company, reported pretax profits of £12.3 million ($17.09 million) in the most recent financial year, which was a huge increase from the £200,000 ($277,000) loss reported in the previous year.
Various companies are offering gold investments for these young investors who are known to be digitally savvy. The Royal Mint revealed that its digital savings platform had attracted new customers who wanted to invest in precious metals. It noted that, in the last year, investing in limited edition coins, which are usually minted with coins for general circulation, had become increasingly popular.
The Royal Mint’s chief executive Anne Jessopp stated that the organization’s objective was to reinvent the mint, which is 1,100 years old, and secure the company’s long-term future as consumer spending habits changed. She explained that the company had expanded into areas that complemented its heritage, which allowed the mint to attract even more customers who wanted to invest in precious metals. Jessopp also mentioned that this was in addition to achieving record revenues and showcasing British craftsmanship. She asserted that the company was firmly focused on the future.
The Financial Conduct Authority (“FCA”) conducted research on the risks these investors were taking following the significant increase in the number of young investors who put their money into various investments, ranging from environmental assets to cryptocurrencies. The FCA found that these DIY investors, who elected to trade on their own instead of seeking financial advice, were willing to try investing, particularly in high-risk products, for the novelty, competition and challenge.
In an attempt to prevent investment harm, the FCA launched a campaign that advises investors to think about several things before they get into investing. Those things include the following:
- Whether they should get financial advice
- If they were comfortable with the level of risk
- If they fully understood the investment they are being offered
- Whether they are protected if things go south
- Whether their investments are regulated
When younger people start showing interest in investing in precious metals, it could mean that mining companies such as Asia Broadband Inc. (OTC: AABB) can count on a growing, sustainable market for their products in the decades to come.
NOTE TO INVESTORS: The latest news and updates relating to Asia Broadband Inc. (OTC: AABB) are available in the company’s newsroom at https://ibn.fm/AABB
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