GOLD NEWS

Gold bullion becomes top-selling product on website

Mon Sep 23 2024

Online retailer Kogan says demand for gold bullion has surged as Australians turn to alternative investments amid economic uncertainty. Kogan, which sells appliances such as TVs, fridges and phones became the first retailer in Australia to stock gold cast bullion.

"The item has now become one of the retailer's best sellers as consumers look to protect their investments against inflation", Kogan said. Gold Bullion Cast Bars are sold in two sizes, 0.5oz and 1oz, priced at $1903 and $3807 respectively.

The precious metal has become a haven for investors during times of uncertainty due to its ability to hold value. The price of gold has soared more than 20 per cent this year and could continue to rise significantly into 2025.

Citigroup forecast prices next year could reach between $US2700 and $US3000 an ounce, up from $US200 and $US500 an ounce from current prices.

Source: https://www.9news.com.au/