"Investing in gold yielded a profit of £249.82 in one year compared to HSBC's best savings account earning just £41."
"Gold's price rose nearly 32% over the same period, vastly outperforming any high street savings account."
The Gold Bullion Company analyzed the profitability of a £1,000 investment in gold versus a high street savings account. The Fixed Rate Cash ISA from HSBC provided the highest return among savings accounts with a profit of £41. In contrast, investing in gold yielded a profit of approximately £249.82 due to an increase in gold prices of nearly 32%. The analysis suggests that while gold may offer higher returns, it comes with risks and costs, including storage fees and potential tax implications.
Read at London Business News | Londonlovesbusiness.com
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