Not everyone can claim to be a genius at investing. Many have the money but not the experience to be successful in playing at the markets. However, everyone can learn from watching the best people work. Keep tabs on well-known investors to see what they bought and what they sold.
Listen to their interviews both old and new to gain their wisdom. Some will always be proponents of using gold as hedge against downturns. Others might swear that gold is useless but turn around and suddenly buy something that is related to gold such as physical units or mining shares.
For many, the reason that they buy and sell gold in Ireland is simply an attempt at diversification. People would rather put their eggs in several baskets rather than a single one. Stocks offer a lot of potential for growth but the market can take a dive and wipe out all the gains.
The bond market provides more security but there is still some risk. Gold has intrinsic value so it will always be worth something until money and securities. It is also the asset that people flock to in times of uncertainty which is what we have in abundance today.
Nobody knows how the economy will be a year from now because of the pandemic so many are taking their chance at gold to stay float.
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