11Onze has completed the second collective purchase of gold from our community. The data confirms that the success of the first round was no fluke, and Preciosos 11Onze continues to exceed expectations. The third round is already underway!

More than 270 ingots in weights ranging from 2.5 g to 100 g, with a total quantity of almost 8 kg, underline how well received the second round of collective gold buying has been by customers in our community. If we add the first round, the total amount of gold purchased is 19 kg. As Raul Casado, head of marketing and sales at 11Onze (CMSO) explains, “the success continues thanks to the good execution of the first purchase, which has been noted in the confidence that our customers have given us in this second round“.

The good reception of Preciosos 11Onze is certainly to be celebrated, but it cannot be an excuse for complacency. Being pioneers by offering a unique product on the market entails a constantly evolving process of learning and improvement. “We have improved the whole process of communication with the client. We already had proactivity, but we have increased the speed of response to people who might have any doubts,” Casado points out.

A market saturated by demand

Economic uncertainty and runaway inflation have spurred many people to convert part of their savings into gold, the ultimate safe-haven asset. The boom in gold buying has been so great that the funnel of buyers has collapsed refinery production, so that refineries are unable to supply the growing demand.

In this context, collective purchases of large quantities of gold are key to being able to negotiate a better purchase price and streamline transactions. This is where the power of the community makes a difference and empowers individuals to compete head-to-head with large investors.

As Isaac Sène, product manager at 11Onze, explains, “we are currently working to offer more competitive formulas for our clients”, given that the stock and availability of suppliers is very scarce and, therefore, we are working on “formulas to make our services even cheaper, adding new actors in our supply chain“.

When an uncertain future is good news

The geopolitical tensions, the sovereign debt crisis of the States, and the rise in the price of money by the central banks in order to reduce inflation make us think that the economy is reaching the end of a cycle where big economic powers, such as the United States, could enter into recession in 2023. These dire growth forecasts augur an increase in demand for precious metals.

“I think the background noise of a potential recession in the next two years marks a potential buying opportunity right now. Big banks, especially in the US, are warning that the Fed’s anti-inflationary policy could drag us into a recession,” says Sène.

He continues, “we have to keep an eye on the figures of retail-oriented companies, an interesting thermometer or indicator to assess the state of perception of the economy by the public. Big names have already started to announce margin squeezes due to the current situation and considerable downgrades in some key product categories for their business models, which is not very good news.

Time will tell whether this is a transitory economic crisis, or, as many financial analysts say, one that is here to stay. In the meantime, for the general population, diversifying savings by buying gold continues to be one of the best options for protecting one’s assets in the face of economic uncertainty. At 11Onze we provide the tools to make this possible, and we are already working on the third gold purchase for our community.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.