World’s super-rich are hoarding physical gold in secret bunkers
Data from Goldman research showed that owning the physical metal seems to be the global elite’s preferred way to hedge against tail events. Physical buying of gold has increased at a rapid pace in the past three years, statistics showed.
“Since the end of 2016 the implied build in non-transparent gold investment has been much larger than the build in visible gold ETFs (Exchange-traded funds),” Goldman said in a note sent to clients and seen by Yahoo Finance.
That simply means that for those including gold in their luxurious bunkers, demand for which has been growing at a fast pace, owning bullion is a must.
“This [data] is consistent with reports that vault demand globally is surging,” Goldman said.