Hungarians bought gold bars for more than three billion forints

By: Trademagazin Date: 2023. 02. 08. 09:11

In 2022, more than HUF three billion worth of gold was purchased for investment purposes in the branch network of BÁV Zálog. This value corresponds to three times the turnover in 2021, which can largely be attributed to the fact that investors are trying to find the safest assets in the uncertain economic situation and the high inflation environment. That is why the turnover of not only gold bars, but also used and new jewelry has increased significantly, by about one and a half times in one year.

Based on the results of BÁV Zálog, the demand for gold was at a consistently high level in 2022, thanks to which the amount of gold bars sold reached 141 kilograms by the end of December. The most popular package was the 5-gram one, while the 100-gram gold block was the most sold last year as well.

“Historical experience proves that in a war situation, the price of gold jumps almost immediately, and then after a small decline, the increase stabilizes. This is exactly what is happening now. Gold is considered a stable, low-risk investment, which is a particularly good solution in the current economic environment. In addition, it is also supported by the fact that it can be easily used anywhere in the world in case of an immediate need for cash.”

– pointed out Imre Dandé, BÁV’s director of network management.