September 23rd 2024.
In light of recent economic uncertainty, Australian online retailer Kogan has noticed a significant increase in the demand for gold bullion. As people search for alternative investment options, Kogan, known for selling appliances like TVs, fridges, and phones, made a bold move by becoming the first retailer in Australia to stock gold cast bullion.
Since its introduction, the gold bullion has quickly become Kogan's best-selling item, with consumers flocking to secure their investments against potential inflation. The gold bullion cast bars are available in two sizes, 0.5oz and 1oz, with prices of $1903 and $3807, respectively.
The appeal of gold as a safe haven for investors during times of uncertainty is not a new concept. Its ability to hold value, even in the face of economic instability, has made it a go-to option for many. This year alone, the price of gold has seen a significant increase of over 20%, and experts predict it will continue to rise well into 2025.
According to Citigroup, prices for gold could reach an impressive $US2700 to $US3000 an ounce next year, a significant jump from the current prices of $US200 to $US500 an ounce. As more and more people turn to gold as a means of securing their investments, the demand for it continues to rise.
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