'Gold is about security in uncertain times': Irish gold trading firm nears annual target in April

'Gold is about security in uncertain times': Irish gold trading firm nears annual target in April
Mr Doolin said they have completed 70% of their annual target in the past three weeks trading. Picture Conor McCabe Photography

A new Irish bullion company has achieved 70% of its yearly target in their last three weeks of trading.

Investors have rushed to the precious metal as the price of gold drifts upwards.

Core Bullion said gold is trading today at the highest euro level yet recorded at €1,515 per ounce.

Led by Nigel Doolin, he said: “People will always buy your gold when the price is low, but when values rise it can be a different story – and a common one in the industry,

“People investing in gold need to know that they can capitalise on their asset and sell when the market is strong.

“This is not always the case with other companies, but we guarantee that we will buy back any gold that we sell at the market rate – no-one else is doing that at the moment.

“We have done over 70% of yearly target in the past three weeks trading, and this has been strengthened by the fact that while a lot of the supply chains have dried up, ours is strong.”

Mr Doolin has been dealing in gold for a decade and was previously Head Of Trading with Merrion Gold, a business he managed from its start seven years ago.

Doolin stresses that those investing in gold for the first time should avoid coins and ensure that they buy bars.

He said: “A one ounce coin will generally cost more than €30 to €90 extra per ounce – but you will never get that extra value back.

“When you come to sell, you will generally only get the weight price of the gold – in essence you are paying for the collectors’ value of coin, which is a very specific market.

“It is also very important when you buy gold, to get physical gold. This is not always the case, and if an institution or a Government collapses, so does your piece of paper.

“Gold is about security in uncertain times," said Mr Doolin. "If you are getting into it for the first time, look at the steady rise over the past 20 years.”

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