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Another gold rush on eve of the big vote

goldfiversInvestors have been diving into gold bullion and coins as the EU referendum day approaches.

Since June, the Royal Mint has recorded increased transactions, up by 32% over the month of May.

The director of bullion at the Royal Mint has said that demand for precious metals, particularly, gold has been rising since early 2016.

Uncertain times have traditionally seen investors go for gold as a safe haven. Gold has usually kept or increased its value even when other assets are declining in value.

The price of bullion is up 21% so far this year, with 8% of that in the last month.

On Monday the price was hovering around the $1,300 an ounce price following a turbulent week. That is still a distant figure to the all-time high of $1,900 back in August 2011.

The Royal Mint has gold to sell. Customers based in the UK and abroad can also buy a fraction of a 400oz gold bar held in the Royal Mint vault.

Some analysts believe the gold price will jump again in the short term if Britain goes for Brexit, but that it is likely to drop with clarity over Britain’s exit plans.

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Comments  

-1 #1 Maxwell 2016-06-22 10:31
Keep an eye on the roller coaster values of Portugal's 10 year Bond.

Whether Brexit or Remain the closeness of the voting has shaken up the world money markets and increased gambling on Portugal being the next eurozone failure is likely to make it happen.

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