WGC SURVEY SHOWS BIG “UNTAPPED MARKET” FOR GOLD
The World Gold Council (WGC) has published a huge survey, taken among 18,000 respondents in China, India, North America, Germany and Russia, which points to some interesting attitudes towards and perceptions of gold, Rough & Polished reports.
First, 56% of consumers have bought gold jewellery, while 34% have purchased platinum jewellery. 38% of “retail investors and fashion enthusiasts have never bought gold, but are open to the idea” – a figure which bodes much hope for the market, according to WGC CEO David Tait. Tait commented: “ […] What really excites me is the untapped part of the market: those people who have never bought gold but are warm to the idea of doing so in the future”.
66% of potential gold consumers globally say they lack the necessary knowledge to buy the yellow metal, and many said that they “mistrust around fake or counterfeit bars and coins, product purity, or the trustworthiness of some retailers”. To that, Tait commented: “Two issues need to be addressed to engage with these potential gold buyers: trust and awareness. This market can flourish if we can build trust across the broad spectrum of gold products being sold and raise awareness around the positive role gold can play in protecting people’s wealth”.