Bullion firm - British holdings increased tenfold in five years

JulieW

JulieW

Well-Known Member
Silver Stacker
http://www.guardian.co.uk/business/2013/mar/14/british-bullion-gold-investment-boom
Bullion firm reveals that British holdings increased tenfold in five years

Speculators and safe-haven investors have ploughed hundreds of millions of pounds in to gold since the financial crisis began


They were tumultuous days: Northern Rock had just been nationalised, the UK was lurching into recession and in the US one of Wall Street's biggest investment banks was on the brink of bankruptcy. But one financial asset was soaring gold.

It is five years this week since the price of an ounce of gold shot through the $1,000 level and there have never been more private gold traders and individual investors keen to keep their cash in the precious metal.

According to BullionVault, which operates vaults in London, New York and Zurich there has been a ninefold increase in the number of gold bullion traders in the past five years, with Britons among the most enthusiastic buyers. Most of them, say BullionVault, choose to keep their heavyweight investment in Switzerland.

More than 45,000 people have used the company to buy bullion, and between them they now own 32.9 tonnes of gold bars, worth 1.11bn - with British households accounting for 562m of the total, 10 times the value of British holdings in their vaults five years ago.

Adrian Ash, BullionVault's head of research in London, said: "Consumers decide to put their hard-earned money into physical gold for many reasons. In the main it's to diversify away from other investment markets, to hedge against inflation or as a 'crisis insurance' if they fear global financial instability. Whatever the reason it's clear that the last five years has seen unprecedented demand for gold."
Click to expand...
GBP isn't a place to save:

But, with a few wobbles, the price has stayed high. In the past five years UK investors could have banked a 115% rise if they bought gold with sterling.

Barclays bank is also keen to cash in on the UK's new passion for gold it opened its first gold vault last September. The secret facility, somewhere within the M25, is one of the largest in Europe and stores gold, silver and platinum, as well as palladium and rhodium.
Click to expand...

Drumming up business of course but interesting nonetheless. Rising awareness it seems.
 
I like Bullionvault's trading platform, very easy to buy and sell using their system with low commission fees, however I wouldn't store too much bullion in there. I prefer stacking physical.

As Jim Sinclair once said "..If You Don't Hold it You Don't Own It!.."
 
SilverScimitar said:
As Jim Sinclair once said "..If You Don't Hold it You Don't Own It!.."
Click to expand...


Real originator of this quote was a Cuban American Stacker named Ponce; not Maloney, Sinclair et al.
 
You must log in or register to reply here.
Back
Top