The Irish people, just like any other people around the continent, used goad as an exchange mean as well as a store of value when saving. Like land, the gold was and is still used in protecting people against inflation impact leading to the need for sell gold in Ireland. Therefore owning gold is considered protection from macroeconomic.
The massive increase in the continental money supply has led to the creation of potential inflationary risks. Meaning the purchasing power of Euros has reduced. Investors, therefore, have to look out for better options that will ensure they do not incur losses due to inflation.
As inflation rises, so do gold prices. This means that gold is in a better position to retain its purchasing power. This has led to many investors seeking out the precious stone to protect them against monetary risks over the coming years.