Watch market news

Coronavirus; Market Meltdown Sends Investors into Gold & Watches

As UK TV viewers will have noticed, Watchfinder is busy advertising right now, as more people with money look for safer investments that stocks – or even property. As the government effectively gives all tenants three months rent free accommodation, many buy-to-let landlords will seek to exit this business later this year. As yet, there is little real financial support for the 5 million self-employed in the UK and this is storing up rent and utility arrears for the remainder of 2020.

Of course investing in Swiss watches is a higher risk than property. There are still overheads; insurance and servicing on high value watches from Rolex, Audemars, Patek, Vacheron, Omega, Cartier etc. There is no monthly income, you gamble that a Royal Oak or Submariner will double in value in say five years. Fact is, some models HAVE done that, without a global pandemic.

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You absolutely need a strong safe, anchored to the ground. If you own over 50K worth of watches we suggest a strong/panic room. You need to escape from pro thieves quickly, as they may well use brutal methods to extract the safe code from you. Same approach if you buy physical gold – people will want to steal it from you, and insurers dislike covering gold and diamonds worth over 30K, except within commercial premises.

NO GOLDIE LOOKING CHAINS, BUY VIRTUAL GOLD INSTEAD?

Alternative investment options are many of course, food distribution or food delivery being a hot one right now. But gold and watches might also offer some growth. Here’s the latest press info from Glint Pay Services Limited, the fintech company that makes gold an alternative global currency.

How? Well by enabling clients to buy, sell, save and spend their physical gold instantly through Glint’s prepaid debit card (Mastercard) and multi-currency app. Glint announced today that it has experienced a several hundred percent increase in its clients buying gold during the recent turmoil effecting global equity markets.

Glint’s clients have been the big winners as they flocked to gold, the traditional safe haven currency of last resort, as the markets swung violently over the last few weeks on fears of a global economic downturn.

HOW DOES GLINT WORK?

Glint offer an innovative multi-currency payments solution that provides instantaneous ownership of physically allocated gold and the ability to use it as money digitally through an app and prepaid debit Mastercard (gold is converted into e-money for transactions).

Physically allocated gold belongs outright to its owner, as opposed to unallocated gold, “exposure to gold” such as when the gold is owned by a FinTech company (e.g. Revolut) or a capital markets instrument such as an exchanged traded fund (“ETF”). By offering access to gold Glint helps shield clients them from the destructive effects of inflation and protects them from the systemic risk of future global financial crises

Glint enables you to save, spend, and exchange between USD, EUR, GBP and gold wallets. Glint’s clients know their gold is securely held in a Brinks Vault in Switzerland. Brinks is insured with Lloyds of London.

In the next few months, Glint will launch Person to Person (P2P) payments, giving clients the ability to send gold and currencies to fellow Glint clients as easily and instantly as you might send a text message.

Fees are transparent and simple with Glint when buying or selling gold or spending in foreign currencies. There are no hidden fees and Glint uses the best available market rates with no Glint margin added, when transacting in 150 currencies around the word.

You should be aware that Glint’s gold offering is not subject to regulation by the Financial Conduct Authority (“FCA”). Always speak to an independent financial adviser if you have any questions or concerns. Northern Watch Co certainly advises anyone to think carefully before investing in gold, as the price can fluctuate rapidly within the space of one week.

 

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