17 Sep Buying gold in Hong Kong is losing its shine amid political unrest
Reuters, Friday, 13 September 2019 – Hong Kong gold market losing shine amid political unrest
Recent, sometimes violent, clashes in the country have started to impact the country’s gold bullion market profoundly . To buy gold in Hong Kong used to be particularly attractive, especially with it being the gate to the world’s largest bullion market, China.
Hong Kong gold buyers lose confidence
Here’s a quote from the Reuters article… “
The risk for Hong Kong is that it loses further control of a liquid and portable asset that is traditionally a major conduit of capital flight during periods of economic uncertainty.”
Ongoing political unrest in Hong Kong
The ongoing political uncertainty in Hong Kong concerns major gold investors and those looking to invest in physical gold. While the purchasing power of gold won’t diminish, there are natural security concerns.
J. Robart & Co., helping clients buy gold
J. Rotbart & Co., which helps clients with purchasing gold, and other precious metals, says it has seen an increase in demand for bullion storage in Singapore from new clients — even when they’re based in Hong Kong or mainland China.
“On the individual investor level, we see more clients opting to store their gold in what they consider as safer jurisdictions,” said Joshua Rotbart of J. Robart & Co, a Hong Kong-based gold and silver bullion house that helps high net worth individuals buy, store and transport precious metals.
Read the full story on Reuters.com