Fintech start-up Troygold aims to remove the hurdles to gold ownership — and to introduce a measure of liquidity to the asset that is lacking at present.
In early March, in the wake of Vladimir Putin’s invasion of Ukraine, worried Russians queued for hours at ATMs, desperate to get their hands on cash amid fears their bank cards would stop working. As Western sanctions began to bite, the rouble lost almost half its value. At the same time, the gold price soared, pushing past $2,000/oz as investors sought a safe haven.
Not that this would have come as any surprise: gold has long proved its worth as a wealth hedge, says Dane Viljoen, chief sales officer of fintech start-up Troygold, and it increases in value in times of geopolitical crisis...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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