Spain: many jewels and few efforts

Madrid

The presence of jewels and gold in Spanish homes is widespread, but in our country there is little tradition of using them as a form of financing.It is the main conclusion of a study presented on Wednesday by Fundación Montemadrid, second entity of prediction with the highest volume of operations in Europe.According to the report, in 90% of households there are jewels and gold, a higher figure than their authors expected.However, only 21% perceive them as a way to seek financing.In fact, almost four out of ten (37%) do not know the value of their jewels.

"Gold is still in homes and continues to have the jewel more as a more emotional, memory or gift element, than as an investment, contrary to what can happen in other countries where the value of gold has a very componentof resource for when a situation paints badly, "says the Director of the Montes de Fundación Montemadrid, Santiago Gil.

More than half of the respondents in the study (57%) say they would be willing to ask for a loan leaving some of their jewels in guarantee in case of liquidity.However, unlike in the previous economic crisis, pandemic has not caused an increase in jewelry efforts."The activity we are having at our headquarters of the Montemadrid Foundation is being very similar to that of 2019," says Gil.

As he explains, his offices continue to attend the same customer profiles with the same needs."From a housewife that needs a financial resource to face the payment of a receipt that I did not expect or a broken washing machine, to professional or freelancers that see in this way of financing so simple and fast one more financial option.We have noticed a big change, "he says.

The gold ring, the 'king' of jewels

According to the report, prepared on a sample of 1,300 people, the presence of jewelry and gold in households reaches 69% of those with revenues of up to 1,000 euros per month, and 100% with income greater than 2,000 euros.And there are hardly any differences between autonomous communities.

As for the type of jewel, what are the most common in homes?"Without a doubt, such as jewel, they are the ring and the gold ring, which are present in 82% of households with jewelry possession," explains Cristian Olivares, a researcher at Tolula, the company that has prepared the report, the report,Who attributes it to 70% of the Spanish adult population is married, widowed or separate.Olivares also highlights the "strong" presence of gold in domestic jewelers."74% of households have gold pending, 65% gold bracelets, more than half, 55%, gold necklaces and there are even 31% with gold watches," he says.

The study also asks about the possibility of resorting to an establishment of 'Buy gold' to commit their jewels.Two thirds of respondents say they would be willing, although 81% distrust this type of business.