You are here

Buyers Panic As Gold Lines “Go Round The Block” Amid Recession Fears

One of Britain’s biggest gold dealers has said it has taken record-day sales on Thursday amounting to £5.6 million, as traders have purchased record-amounts of gold in a panic amid fears that the world is on the brink of a huge financial crisis.  BullionByPost’s managing director Rob Halliday-Stein says that Thursday’s sales are the largest ever for the company. Telegraph.co.uk reports: “The bullion market has been building with interest since the end of last year but this morning things have gone bananas,” said Mr Halliday-Stein. “Some bankers in London are placing unusually large orders for physical gold.” London-based ATS Bullion added it had been inundated with orders for the past week. The firm has sold 4,000 gold bars and coins since February 1, a 40pc rise on the same period a year ago when it sold 1,500. “It’s been crazy – it’s been the best week since 2012. We’ve had people queuing round the block,” said Michael Cooper of ATS Bullion, a family run firm that trades online and also from an outlet in the West End. Gold is currently at its highest level since May, with prices surging 2.2pc this morning to $1,218.17 for an ounce of the precious metal. [...]