According to the Knight Frank report, in 2022, the typical UHNWI wealth allocation in gold was 3% globally and 4% within the Asia Pacific area. (Representative picture)
India and Chinese Mainland had been positioned second on the record with a 6% wealth allocation in gold by the UHNWIs of the respective international locations in 2022.
According to the Attitudes Survey carried out by Knight Frank, 6% of the full investable wealth of Indian ultra-high net-worth people (UHNWIs) was allotted in the direction of gold in 2022.
India and Chinese Mainland had been positioned second on the record with a 6% wealth allocation in gold by the UHNWIs of the respective international locations in 2022.
Austria ranked first on the record with 8% allocation. Gold allocation by the Indian ultra-wealthy people stood greater than the typical allocation of UHNWIs from each world and APAC areas.
According to the Knight Frank report, in 2022, the typical UHNWI wealth allocation in gold was 3% globally and 4% within the Asia Pacific area.
Interestingly, there was a rise within the allocation to gold by the Indian UHNIs from 4% in 2018 to six% in 2022.
Why UHNWIs Invest In Gold?
One of the first causes for the rise within the allocation to gold by the UHNWIs is the numerous returns that gold has offered through the years. The yellow metallic has delivered a stellar over 69% returns previously 5 years (From FY 2019 to FY 2023). T
The pandemic, resultant low rate of interest and straightforward liquidity technique adopted by the worldwide central banks gave an enormous push to the costs.
Shishir Baijal, chairman and managing director, Knight Frank India, mentioned, “In the wake of uncertainties in the global economic landscape, consumers resorted to allocate incremental capital to assets that offer stability and serve as a hedge against inflation. This was captured aptly in the Attitudes Survey in our The Wealth Report 2023, that Indian UHNWIs have allocated a higher proportion of wealth to gold (6%) versus the global allocation (3%) in 2022.”
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