The Pure Gold Company, which buys physical gold and silver on behalf of private investors, saw a 987% increase in gold sales over the last seven days, compared to the weekly average over the last year.
Gold prices have stepped back into the $1,700 per ounce marker of late as risk appetite has improved across financial markets.
Josh Saul, chief executive of The Pure Gold Company, said: “Over 56% of the clients purchasing since the start of December are financial professionals, and they are deeply concerned about the effect this deadly disease might have on the financial markets.”
A boom in the price of Bitcoin has reignited a debate about whether it is the next safe asset for investors to park their money, however it may need longer to usurp the dominance of the yellow metal.
Gold had a good year in 2019. A very good year as Frank Sinatra once sang. In dollar terms, it was up in price 19 per cent.
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As the likelihood of a no-deal Brexit grows, investors are racing to secure gold with the Pure Gold Company reporting a 632% increase in people purchasing physical gold bars and coins over the last week, compared to the weekly average for 2019.
The Pure Gold Company has seen a 632 per cent increase in people purchasing physical gold bars and coins over the last week, compared to the weekly average for 2019.