Net customer gold buying rose 97.5% in a month according to well established precious metals trading platform BullionVault.
In a recent news post BullionVault confirms that:
“Gold investment, net of client selling, almost doubled on BullionVault in May, up 97.5% from April to the most in four months.”
This recent jump in investor interest in precious metals comes off the back of rising concerns over inflation as more and more data is being released showing that the cost of living is at multi-decade highs.
Many investors are now turning to gold to protect their wealth from increasing inflationary pressures.
Gold is timeless, global and gold has proven appeal as a long-term store of value.
Stock market volatility.
Over the long term gold has repeatedly risen when risk assets like the stock market have lost value.
In a recent tweet by Holger Zschaepitz he comments:
“Just to put things into perspective: All stocks now worth equal to 133% of global GDP, meaning Buffett indicator screaming BUBBLE!”
This is an indication of how overvalued the stock market is at the present time.
BullionVault’s Adrian Ash who is the director of research at BullionVault adds:
“Gold investment demand jumped last month as bullion prices rose”.
“That net inflow – reaching almost a quarter of a tonne (237kg) – took the total quantity of gold owned by BullionVault users insured inside specialist storage in each client’s choice of London, New York, Singapore, Toronto and most popular Zurich to 46.9 tonnes, a new record in the company’s 16-year history.”
In May gold prices rose at the fastest pace in 10 months, gaining 7.5% in US Dollar terms to $1899 per ounce in London’s professional market – the third highest monthly close ever behind July and August 2020.
BullionVault is now caring for $3.9 billion of gold, silver and platinum for over 95,000 users from 175 countries (£2.8bn, €3.2bn, ¥439bn).
Interested in investing in gold and silver bullion?
BullionVault is the world’s largest online investment gold and silver service, allowing private investors access to the professional bullion markets. BullionVault manages over $3 billion in client property for over 95,000 active users.
BullionVault gold and silver is securely stored in professional vaults. Because of this the custody fee, which covers storage and insurance, is much lower than anything comparable.
Only BullionVault gives you the opportunity to buy gold and silver at the benchmark London Prices published on the London Bullion Market Association website.
It’s free to open a BullionVault account and typically takes under a minute.
Read our full BullionVault review here.
Gold and Silver UK is an account holder and/or an affiliate of BullionVault which may provide us a commission at no extra cost to you.
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