International Women's Day celebrates the rights of women and girls. This day recognizes the struggle for equality that women have carried out through the 4 waves of feminism (starting in the 19th century), which resulted in greater political, social and economic autonomy rights.
In this context, it is relevant to analyze how gold has been an ally to female economic autonomy, from its use in dowries and inheritances, to its role as an investment vehicle.
Gold as a Symbol of Female Empowerment
Since ancient times, women have used gold as a way to ensure their economic well-being. In societies where laws restricted their access to property or their own income, gold became a tangible resource that allowed women to preserve wealth and guarantee their future.
Similarly, gold has functioned as a form of personal financial insurance in different cultures. For example, in India, gold is a key element in marriages, as families offer it as dowry. In fact, it is estimated that Indian women own 11% of the world's gold, in the form of jewelry.
Beyond the symbolic aspect, gold becomes a financial insurance for women in case they face economic challenges. In the Middle East and Asia, many women inherit gold jewelry as a form of heritage that they can use in situations of emergency or to start businesses.
This access to gold has given many women a level of economic autonomy that they would not otherwise have had. In several countries it was not until the 1960s or 1970s that legislation allowed women to open a bank account without the signature of their husband or father; in the United States that was in 1974 and in Spain in 1975.
Women Investors and Gold as a Safehaven Asset
Due to its strong performance over time, 28.4% (in dollars) in 2024, many female savers or investors have opted for gold as a safehaven asset within their portfolios. As an example, the Royal Mint recently announced that more women are buying gold. As of October 2024, women represented more than a quarter (26%) of the mint's investor clients, a figure that triples the statistic from 2018, when women represented only 8% of its total clients.
A similar upward trend can be observed in countries within the European Union and in the United States. According to a study conducted by BullionVault in 2024, since the start of the Covid-19 crisis in early 2020, the number of women investing in gold for the first time grew by 116% compared to the immediate previous 4-year period (2016-2019).
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