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.