British rush to Australian gold

Not only in Germany is currently bought like crazy gold. Australia’s foreign trade statistics show that gold sales from Australia to the UK have risen dramatically in recent months.

Gold is in demand

In the past quarter, the British bought $ 5.3 billion in Australian gold. According to the Sydney Morning Herald, this was the highest amount in this category ever reported for a single quarter. Compared to the same quarter of the previous year, gold transactions on this trading path increased by 1,400 percent.
Month record

Alone in September, 2.2 billion dollars of Australian gold had migrated to the UK – this is also recorded as a new record volume. To classify: For this sum, with a gold price of $ 1,511 per ounce (average price last September) we get 1,455,989 ounces of gold. That’s about 45 tons of precious metal. At the same time, in the first nine months of the year, the United Kingdom was the largest customer of Australia’s gold processors with $ 9 billion in gold ahead of China ($ 5.8 billion). The numbers are from the Australian Bureau of Statistics.

United Kingdom and Gibraltar European Union membership referendum sequences

In recent months, the Australian Mint Perth Mint reported a significant increase in gold sales (Australian gold coins: sales are rising significantly!). Increased British gold demand is associated in the media with Brexit uncertainties.