Around the Campfire: First Quarter update from Glint’s CEO

Amid all the gloom that mires the world right now I can at least report that Glint has had a wonderfully successful first quarter.

Our friends at Incrementum, who publish the unmissable In Gold We Trust report (the next one is promised for 24 May) tell us that the gold price in nine major currencies has gone up by an average of 7.2% as of the end of March – by 6% in US Dollars. 9.1% in Pounds Sterling and 12% in Japanese Yen. The drivers for the higher price are obvious – rampant inflation in the US, the UK, the EU and growing fears of a serious sovereign debt default (by perhaps Russia, which would put that of Sri Lanka’s this week in the shadows) and the Russian invasion of Ukraine have added enormously to the uncertainty of the short-term outlook.

I won’t bring to your attention some of the more extreme price forecasts or wilder speculations. Suffice to say that cooler analysts from Goldman Sachs and other banks have been updating their price forecasts – Goldman has recently forecast $2,500 per ounce over the next few months.

But it’s not just this evidence that gold retains its attraction as a ‘safe haven’ – Glint’s model of using gold-as-money is clearly attracting wider interest. We now have more than 100,000 registered users. That figure is growing by 10% a month right now. Glint clients have increased their gold holdings by almost 30% in the last 12 months. And our service to clients is trusted – we have a score of 4.6 on Trustpilot; our current App Store Connect rating is 4.6 in the UK and 4.8 in the US; and our Google My Business rating is 4 in the US and 4.3 in the UK.

It’s also notable that you appear to be enjoying this, your weekly Glint Newsletter, where we see a regular open rate of around 40%, which is almost unheard of for a Fintech, where most newsletters achieve around a 23% open rate. So, thank you all for your continued support right here!

But perhaps the biggest endorsement of our work has come from the major precious metals producer, Sibanye-Stillwater, which has decided to invest significantly in Glint. Neal Froneman, CEO of Sibanye-Stillwater says: “This partnership with Glint provides Sibanye-Stillwater with the ability to support new end markets for gold on an innovative, digital and highly regulated platform, backed by physical gold”.

We’re spreading our wings and it’s all thanks to you, our very special friend. Wherever you happen to live, know that your continued support is vital for our success. And remember – Gold is security. Glint its key.

My personal thanks and best wishes,

Jason Cozens, founder and CEO.