RE: Gold price hitting new highs29 Jan 2019 17:04
This is about ordinary people being able to hold and spend the world's most coveted metal.
That is a big draw and even if the price sails away, exclusive things always attract interest. Humans are moths to flames over anything shiny, exclusive, expensive or perceived as wealth enhancing. Or anything that is novel and new, something they can brag about. 'I own real gold through my card' is, I suspect, something many people would love to tell their friends and families/co-workers, etc. Or some guy takes his fiancee out for a meal and tells her he can pay for it via gold he owns. This is what this card is doing, it's playing on the psychology of owning gold at grass roots level. It matters not the spot price tbh. People will simply buy what they can afford and spend. It's still gonna have the same exclusive shine and the more expensive it gets the more attractive it gets as one of the world's foremost precious metals.
You only need to look at ebay to see the scramble for Aunt Maggie's secondhand gold rings, let alone the bullion bars, coins and nuggets that people literally throw themselves at on a daily basis, despite any rise in price.