The Royal Mint has seen a surge in the number of women putting their money into gold and silver, with female investors now making up 26% of its investment cutomers, a significant rise from just 8% in 2018.
Amid soaring gold prices due to geopolitical tensions, falling interest rates, and the uncertainty surrounding the US election outcome, women are increasingly turning to the precious metal as a “safe haven” asset. A Royal Mint-commissioned survey discovered that 27% of women are looking to shift their savings into investments within the next year, with 16% considering gold as an option.
In general, the value of investments can go down as well as up, potentially leaving people with less money than they put in. Investments are often seen as a longer-term strategy, so people may want to consider how long they can leave money invested for as well as how much risk they are comfortable with.
The survey also highlighted that a third (31%) of prospective female investors aim to build their wealth for the future. Additionally, it revealed that investment jargon is a barrier for many, with 58% of women who don’t currently invest finding the language too complex, compared to 47% of men.
Nicola Howell, chief commercial officer at the Royal Mint, commented on the findings, saying: “This study clearly shows the impact of investment risk and knowledge on female investment participation. While undoubtedly progress has been made in recent years, and more women are expected to invest in the next year, there is a long way to go before a level playing field is reached.”
“We want more women to feel empowered when making investment choices, whether that’s in precious metals or any other asset.” Over 3,000 individuals were polled by Census wide in August for this study.