South Korea Introduces Gold Bars in Convenience-Store Vending Machines
South Korea is now offering gold bars through vending machines at GS Retail stores, as reported by Bloomberg. These machines will dispense gold bars as large as 37.5 grams, with prices starting at around 88,000 won, or $64, for a half-gram bar.
Increasing Demand for Safe Haven Assets
A spokesperson from GS Retail revealed that the machines are generating about 30 million won in sales per month. The growing demand for safe haven assets and the trend of micro-investing are attracting customers to these gold vending machines.
Rising Popularity of Micro-Investing
The demand for gold is rising in tandem with the increasing popularity of micro-investing. According to a Charles Schwab report, 65% of Gen Z and millennials are interested in investing in fractional shares of a company, indicating a sustained interest in micro-investing.
Insight:
With economic uncertainties and the volatile nature of traditional investments, individuals are turning to safe haven assets like gold to secure their wealth. The accessibility of gold bars through vending machines at convenient locations like retail stores caters to the growing demand for alternative investment options among younger demographics.
