Is now a good time to buy gold? Yes if you’re Scottish! Gold loving Scots investment in physical gold has rocketed by more than 40% over the past two weeks as Scotland become closer to the referendum.
It is thought this influx by wary Scottish investors is due to use gold’s unique characteristics as a form of insurance against riskier assets such as currency debasement of Scotland’s currency should the referendum turn to a Yes vote on Thursday.
Why could there be a greater influx from Scottish investors?
It may be that Scottish investors are concerned about the stability of the Scottish Banking system should there be a yes vote on Thursday. This theory ties in with reports of Scotland based investors opening bank accounts just south of the border in Northern England.
Investors are likely to be aiming to ensure that the majority of their savings remain in sterling based accounts, which also backs the reports of an influx to NS&I, although the financial institution refused to comment.