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Why do people buy gold rather than deposit their money in the bank?
Wiki User
∙ 14y ago
Because
* Gold prices are going up and are appreciating at the rate of around 15% or more every year * Bank deposits can give you a maximum of around 8% on your deposits Which means - Gold is a better/lucrative investment when compared to bank deposits and that is why people are buying gold.
Wiki User
∙ 14y ago
People buy gold as an investment for a few reasons. Firstly, gold is seen as a safe-haven asset that holds its value well during economic uncertainties or inflation. Secondly, gold has a long history as a store of value, making it a trusted investment choice for many. Lastly, some people buy gold as a hedge against currency devaluation or a potential collapse of the financial system.
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People who have money in the bank are called?
they are called depositors because they deposit their money in the bank. they are also called bank clients.
How do you deposit money in an account?
you can deposit at the bank
What is the significance of the Bank of the US?
it gave people privligases to deposit money fom taxes in the bank
How do you put money on an account?
Walk into an ATM and deposit the money into your bank accountWalk into the bank branch (any bank that you have an account with) and deposit the money into your bank account
What is the verb for deposit?
Deposit is both a noun and a verb. She made a deposit at the bank. (noun) She was able to deposit the money at the bank. (verb)
Deposit in a sentence?
he went to deposit his money in the bank he had to deposit 20 dollars
What is money put in a bank?
A deposit
What happens if a large deposit is made in a bank?
The bank would deposit a portion of the money with the central bank and then think of ways to lend this money and earn an income out of it.
How does banks make money?
People who deposit money get a small rate of interest paid to them. The bank lend that money to people and charge a higher rate.
How do you deposit money Mafia Wars?
to deposit money in the bank you need more than what you want do deposit because the bank charges 10% of what you deposit. for example you want to deposit 1000000 dollars, you must posses 1100000 dollars to have the 1000000 dollars put in the bank.
I am a pakistani i have a lot of cash money now what bank account should i have to deposit money?
If you have a lot of cash, you will need to deposit the money in a bank in the town you live.
What do the people do to deposit their saving in a bank?
To deposit their savings in a bank, people typically visit the nearest bank branch or use online banking services to transfer funds from their personal account to their savings account. They can also deposit cash or checks into their savings account through an ATM or mobile deposit.
