EI: Gold Sales Surge 125% as US / North Korea Standoff Intensifies

The associated feature
Gold-Bullion-678x381

The Pure Gold Company

10/08/2017

The Pure Gold Company’s Josh Saul reviews the sales surge of gold as the US/North Korea Standoff intensifies.

Sales at gold investment firm The Pure Gold Company increased by 125% August 9th as tensions between the USA and North Korea intensified, heightening concerns that an attack could have significant adverse consequences on financial markets.

CEO Josh Saul said: “Over 65% of all physical gold purchases came from financial services professionals, including those in banking and accountancy, concerned that global equities will be hit if relations between the US and North Korea deteriorate further. The stock market slid yesterday and the gold price increase by more than 2% on the back of President Trump and North Korea’s exchange of words.”

“We saw a 64% increase in people purchasing physical gold for the first time citing the breakdown of international relations. Many fear that as allies, the UK are also susceptible to being dragged into an unnecessary and unwanted conflict. We see many of our new enquiries and clients using the opportunity to protect themselves against an uncertain future, especially given the unpredictability of both President Trump and Kim Jong-Un.”

“Over the last two days, we have also seen a 72% increase in people removing exposure to global equities within their SIPP and pension to purchase physical gold within the same vehicle. Clients who are within a few years of their retirement are concerned that their pension could lose considerable value because of the threat of war and conflict. Pensioners don’t have the luxury of time to wait for their stocks to rebound after a potential equity crash and so the general sentiment is that many would rather convert their gains in the stock market to take advantage of gold investment which is still 20% lower than its peak of 2012. Our clients are not purchasing physical gold to necessarily grow their wealth, the objective is safety, security and wealth preservation.”

Source: Entrepreneur & Investor

Gold-Bullion-678x381

“We saw a 64% increase in people purchasing physical gold for the first time citing the breakdown of international relations."

< Back to Press

Related entries

  • IBTimes Commodities: Gold races past $1,270 as global geopolitical tension escalates.

    The Pure Gold Company 12/04/2017 The escalating war of words between Russian and the West, plus North Korea and Brexit, sends gold up by nearly $20. Josh Saul is interviewed in the International Business Times on the results of the US intervention in Syria. Precious metals saw another session of unprecedented volatility on Tuesday (11...Read more >
  • CNBC interviews The Pure Gold Company on live TV

    The Pure Gold Company Josh Saul is interviewed for CNBC discussing how gold could be best held physically. By Karen Gilchrist Gold’s role as a ‘safe haven’ asset in times of uncertainty is widely acknowledged, but according to the chief executive of The Pure Gold Company, it’s all about how you hold it. Physical stores...Read more >