Record £27.9m of gold and massive £45.3m of silver changes hands

Monday’s jump to $5,000 gold and $100 silver prices saw a record value traded by users of BullionVault.

Blowing past the previous all-time record of 11 August 2020, depths of the first Covid lockdowns, the West London fintech’s global clientbase dealt £27.9m of gold and a massive £45.3m of silver in 24 hours. 

Added together, that £73.2m of trade in physical bullion was well over 3 times greater than the past month’s daily average (+264.8%), itself almost 3 times the prior 12 months’ average daily turnover (+183.6%).

Investors were net buyers of gold on Monday, acquiring 12.4 kilograms more than they sold as a group with gross demand of 171.1kg. But they were net sellers of silver, offloading almost 4.0 tonnes as gross demand of 13.5 tonnes was outweighed by existing owners taking profit.

“Gold and silver prices exploded at the start of Asian trade Sunday night,” says BullionVault director of research Adrian Ash.

“This is a pattern which surging demand and speculative trading in China keeps repeating. As BullionVault is a 24/7 marketplace, it enables UK investors to take advantage of these moves outside UK business hours, unlike London-listed ETF trust funds or High Street shops selling coins and small bars.” 

See the live gold price in UK Pounds per gram here: https://www.bullionvault.co.uk/gold-price/gold-price-uk