This year, Britain decided to leave the European Union. This decision has affected many investors in the country. One teacher from Yorkshire Grace Hall has been worried about her family’s fortune. Three days after the vote, Britain stocks and the sterling pound plummeted. Grace took some of her life savings and deposited them into gold.
Grace and her husband are worried that the banks might fail, and they might lose their hard earned money. Grace is not alone in this dilemma. Many parents in the country are worried about their kids and the future. Gold dealers have reported a huge number of gold clients since the Brexit. Most of the clients are first- time buyers because they believe that gold is a safe haven when unexpected events such as Brexit occur.
Joshua Saul, the current CEO of Pure Gold Company, says that the speed at which clients are buying gold is unprecedented. In the recent past, new investors like Grace Hall visited the institution, and they have converted half of their network to gold. In the past, most clients in Pure Gold Company invested just five to ten percent of their worth into gold.
Royal Mint, one of the popular coin producers owned by the government has reported a significant increase in its sales, just weeks after the Britain vote. In June this year, over four million pounds in the form of silver and gold was traded online, seven times the normal average. Bullionvault.com, a London-based platform reported that the new UK buyers had gone up with over one hundred and seventy percent, compared to the previous years.
The property market, on the other hand, has experienced some adverse changes since the Brexit vote. In London, more than eighteen million pounds invested in property funds was reported to have been frozen this July. One of the property companies in London said the ongoing financial panic was worse than anything they had ever experienced. Most of the real estate firms do not believe what is happening to the market. Many projects that were supposed to start have not, and many consumers are not planning to invest any money in more properties.
Gold Dealers in the nation say that this is not the first the investors are running to invest in gold. During the subprime crisis that happened in 2007, the dealers saw an increased number of gold investments. The same occurred when Europe had a debt crisis in 2013.