FTSE Global Markets: Pure Gold Company reports sale of physical gold surges 68% over week

The associated feature
gold-bullion-bank-finance-savings-68149

The Pure Gold Company

20/07/2017

Sales of physical gold surged 68% this week reports investment firm The Pure Gold Company after the Bank of England warned there is greater systemic risk from the credit market than in 2008.

Josh Saul, CEO of The Pure Gold Company explains, “Concerns about the stability of the banking and financial system have already prompted people to buy gold this year. With these fears confirmed by the Bank of England’s report, clients are returning to take advantage of the gold price, which is at a relative low compared to last month. Finance professionals, teachers, engineers and medical professionals have all been buying physical gold to remove exposure to banks and equities for fear of both short and long-term volatility.”

In a study published last week, the Bank of England said the European corporate bond market could prove an even greater risk to market stability than during the 2008 financial crisis.

“Brexit uncertainty and the recent unexpected fall in inflation have pushed the possibility of a rate rise out even further, weakening the pound and supporting the gold price,” Saul says, “We’ve seen a 49% rise in sales to first time gold buyers, and a 65% increase in people removing exposure to equities within their pension or SIPP to purchase physical gold within the same vehicle. Our clients aren’t necessarily looking for growth. Whilst it’s understood that gold has outperformed other asset classes like equities, bonds, cash, inflation and property over the last 10 years, it’s the safety, security and wealth preservation aspect that really motivates them to purchase physical gold.”

Source: FTSE Global Markets

gold-bullion-bank-finance-savings-68149

“We’ve seen a 49% rise in sales to first time gold buyers, and a 65% increase in people removing exposure to equities within their pension or SIPP to purchase physical gold within the same vehicle."

< Back to Press

Related entries

  • Reuters: Trump victory spurs physical gold buying in Europe

    The Pure Gold Company 9/11/2016 The Pure Gold Company reporting a 42% spike in sales via the Reuters news service in the wake of the Trump election victory. Many purchasers are scrambling to find safe havens for their investments in anticipation of economic crises to come, and gold has become a popular investment. By Marcy...Read more >
  • Channel 4 Dispatches: The Brexit Millionaire

    The Pure Gold Company Channel 4 invited Managing Director of The Pure Gold Company’s Josh Saul to feature in a “Dispatches” documentary about the winners and losers of Brexit. Interviewed at 1 Royal Exchange Josh was asked to explain why people were investing in gold in the wake of Brexit and the wider geopolitical uncertainty.  You can...Read more >