It seems like Brexit has made more and more people flock to the percieved safe haven of gold if the following comments from Chris Howard, The Royal Mint’s Director of Bullion are the case.
“The Royal Mint has seen a significant spike in purchases of its gold products across the business, particularly with visits to its bullion trading platform www.royalmintbullion.com, recording an increase in visitors of 550% compared to the same period yesterday. New account openings on the platform have increased by almost 200% over the same period, as investors turn to Royal Mint gold.
The Royal Mint’s Signature Gold bullion service is proving to be particularly popular. The product – which allows investors to benefit from economies of scale by purchasing fractions of large gold bars from as little as £20 – is more than 100% up in sales terms, even compared to the already heightened results reported earlier this week.
Whilst we are uncertain at this stage what impact the results of both the European Referendum vote and the US elections will have on the gold market in the long term, we have ensured that with The Royal Mint’s bullion trading platform www.royalmintbullion.com and our significant gold holding, we are prepared for possible market turbulence.”
It seems that this British institution was considerably more prepared for Brexit than the political one was.