
"In 20 years of operation, BullionVault has never been busier except in the all-out crises of 2008, 2011 and 2020," says director of research Adrian Ash at the West London fintech."
"Lehman's crash, the debt and rioting crisis of 2011, and the Covid lockdowns were clear and immediate emergencies, spurring huge demand for gold," says Ash."
"Instead, gold has jumped to new record prices as global equities and Bitcoin also hit new all-time highs. This move to hedge against inflation signals long-term anxiety over currency debasement and the size of government debts."
BullionVault now cares for a record £5.3 billion of precious metals for 120,000 users worldwide. September saw the most new UK account openings since April 2020, with first-time UK investors jumping 87.6% month-on-month and 213.5% year-on-year. The UK Gold Investor Index rose 1.7 points to 57.1 in September, the strongest level since June, and stood 3.6 points above the rest-of-world measure. The index would read 50.0 if UK buyers and sellers balanced exactly and previously peaked at 63.1 in March 2020. Gold’s rise accompanies global equities and Bitcoin highs and is viewed as a hedge against inflation, currency debasement, and large government debts.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]