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Coronavirus brings out gold industry’s best

As one of Brisbane and the Gold Coast’s longest established Gold Brokers and businesses working amidst the current (and unusually volatile) global medical emergency, we are aware of the influential factors and impacts coronavirus is having on trade, commodity prices and consumer response when it comes to buying and selling gold items. As a response, our business can choose to participate in helping make a difference, which is what we are doing rather than simply ‘seeing it through’.

An example of businesses operating within the ‘resources and mining industry’ who are making a difference include Australian mining operator FMG (Fortiscue Mining Group) who’ve shown to be doing their part for the global community by helping support the rehabilitative initiatives of the Coronavirus epidemic. FMG donated $1 Million to the Wuhan Qingshan Charity Federation in support of their counter and rehabilitative focussed medical efforts as an active response to the situation, and have shown leadership amidst growing fears around the virus, (Mining Journal, 2020) .

The World Bank are another example of active engagement in ‘making a difference’ when it comes to supporting a humanitarian response to the Covid-19 outbreak. Gold, silver, copper and other commodity investments find their way moving through fiscal streams supported by the world bank, and according to the Financial Times (2020), the World Bank are committed to global investments made to median-level income economy countries to support development of medical infrastructure during this time of medical emergency. They have noted that these funds also aren’t limited to interventions and other avenues that may support the interest of public health and precautionary medical efforts at this time (www.ft.com).

At Gold Coast Gold Buyers, we work and support both international as well as locally based clients, and we understand that during this time, our best support would be to continue dealing with all of our customers with empathy and to operate with the highest integrity, understanding that the financial diversifications of both markets may shift economically in support of loved ones in response to Coronavirus. We particularly understand that the health of family and friends, their medical well-being and safety become prioritised, with even greater urgency than usual, during medically worrying times like these.