What happened to gold prices in 2020 and why you should consider investing in it
Universal demand and limited supply make gold a sought-after investment asset.
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- Gold, as a tangible asset like real estate, appreciates in value over time
- Gold prices reached record-highs during major market recessions
- Fintechs offer investors to buy pure and insured gold safely stored in government-owned refineries
When the US economy came to a grinding halt during the global lockdown in 2020; panic, unemployment, and a wave of business and office shutdowns led to a market flash-crash. The average 401(k) balance tanked below $100,000, credit card debt and personal loans rose by billions, and the stock market went haywire, which made people panic even more.
Many people sold their assets at a loss, withdrew from their 401(k) to balance out their budget, and became completely dependent on stimulus checks for months. On the other hand, gold prices reached a record-high value, breaching the $2,000-mark within mere months of the global lockdown. Even when several sectors of the stable real estate industry were battered, gold (being immune to market manipulation) surged as people flocked to invest in the precious metal.
Gold’s universal demand and limited quantity have always kept it ahead of inflation. Since it doesn’t face devaluation like government-issued fiat currency, is highly tradable anywhere in the world, and portrays a sign of financial stability; gold could well be the only asset that could create a buffer for your investment portfolio during market crashes.
Gold is also free from any banking restrictions and limitations, which allows you to conduct business in a private and trusted manner. To benefit from the advantages of gold, though, you need to make sure to buy insured gold manufactured at a certified refinery and stored in a highly-secure deposit vault.
Buying Pure and Insured Gold is Just a Click Away
Thanks to technological advancements, fintech companies now offer services that cover almost the entire spectrum of personal finance – from investing to retirement planning to debt repayment strategies.
One trusted mobile app called Vaulted offers investors a unique gateway to buy 99.99 percent insured kilo gold bars manufactured at the Royal Canadian Mint. The ISO 90001:2000 certified refinery, owned by the Canadian government, houses state-of-the-art deposit vaults where your holdings will be stored and accounted for through quarterly audits. Your holdings will also be insured against theft, damages, and other related losses so you won’t have to worry about any misplacements or mix-ups.
Creating a new Vaulted account only takes less than a minute. Once created, you may proceed to link your checking account and initiate a transfer to buy and sell gold almost instantaneously through the app during market hours.
Gold transaction fees never go above 1.8 percent of the transaction amount, and you will also need to pay an annual maintenance fee of 0.4 percent towards safe storage. Conversely, if you wish to get your holdings shipped to your doorstep instead, you may place a request with Vaulted and they’ll get it done for you. You won’t have to pay the maintenance fees in this case.
Vaulted is one of the few apps that is backed by a strong team and cutting-edge tech that strives to offer a seamless gold-buying experience without any waiting periods or holdovers. So far, their team has dealt with over $2.5 billion worth of precious metal transactions. Furthermore, the app undergoes frequent third-party audits and is kept secure with the help of Google developers.