In a period in which trust is lacking and the precautionary savings of the Piedmontese are increasing, it has become particularly important to secure capital. At the end of 2020 they reached the remarkable figure of 89 billion and 449 million, while in December 2019 they amounted to 86,276 million. And safe haven assets are also rediscovered, considered the best investment in terms of safety. Of all, gold is considered to be among the best known, most loved and most reliable. Even if you have to be careful to buy it at the right time. Gold is in fact highly speculative, so its price is characterized by decisive ups and downs from the buyer’s point of view. Even more so, as is actually happening, if there is a “disturbing element”, such as the coronavirus. Analysts agree on a growth in the value of the yellow metal throughout the current year, as a result of the rush to buy generated by the economic disaster caused by Covid-19. In addition to gold, even a precious jewel will always be a guarantee, but you need to be an expert in the sector and you need a considerable amount of capital.
In this situation of economic crisis, resulting from the health crisis, there is also a return of the gold buyers, or jewelers who buy from people intending to sell the family’s jewels and precious metal, perhaps to support a non-postponable purchase or to try to give breath to a domestic budget in great trouble. According to Codacons, gold buyers have increased their turnover by 50% during 2020. If at first those in need turned to the pawnshop, hoping to be able to recover the jewels committed, later many of them have started to turn to gold buyers having lost the hope of being able to redeem what was committed. A phenomenon that has prompted many operators to return to a sector that had decreased significantly in recent years.
According to the latest annual report of the OAM (Organismo Agenti e dei Mediatori Creditizi) at the end of 2020 there were 6,383 gold-buying branches in Italy, 308 more. In addition, 3,882 individuals are registered in the Register of Buyers for Gold, equally distributed among individuals and legal entities, with an increase of 253 units compared to the previous year.
Of the 3,882 members, 1,966 are legal persons and 1,916 individuals. As regards the geographical distribution throughout the national territory, however, the largest number of branches is concentrated in Lombardy (17%), where there are over a thousand shops, with Lazio and Piedmont closing the podium, boasting about five hundred structures. A bargain for those who can afford to buy gold at affordable prices, taking advantage of the fragility of the moment.