Finance
20:19 14 October 2021
Post by: WBJ

Gold maintains high purchasing power as a long-term investment

Gold maintains high purchasing power as a long-term investment
Source: Mennica Skarbowa

Although the price of gold has remained relatively constant at PLN 6,800-7,000 per ounce in the last few months, the demand for this asset is growing. The purchasing power of gold is steadily increasing. It is worth remembering that investment in ore brings the greatest profits if we consider it in the long term. In the 1970s, we would pay 1 ounce of gold or $35 for a suit. Today, for a good brand suit, we could easily pay the same ounce of gold (about PLN 7,000), but $35 would not even be enough for a good tie.

"Investing in gold is good security for capital. Its value systematically grows in times of prosperity, but in the event of a sudden collapse, the price soars. This is because investors in times of crisis reach for safe assets, among them, gold is the one that gives the most certainty. When deciding on such an investment, it is worth remembering that its profitability depends on the geopolitical situation at the time of buying and selling. The metal brings the greatest profits in the long run – analyzing the gold exchange rate over the last 15 or 20 years, you can see how its purchasing power is systematically growing. It should also not be forgotten that this metal is a very liquid asset," Jarosław Żołędowski, President of the Management Board of the Mennica Skarbowa (Treasury Mint), said.

(WBJ)


gold
jarosław żołędowski
mennica skarbowa

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