Gold has been valued in the United Kingdom (UK) and across global society for thousands of years and today remains one of the world's leading commodities, offering a range of financial uses. Individuals often turn to gold in times of economic instability, as gold can be used to hedge against economic risks such as inflation or currency devaluation. As the UK faces political, economic, and financial challenges,
has increased from 1,446 euros in March 2021 to 1,877 euros in March 2024. From a global perspective, the UK is a large consumer of gold, accounting for the majority of
. The UK was overall the third
after Switzerland and China.
Gold reserves
Gold reserves in the UK have experienced growth in recent months. Although
local gold reserves in the UK have remained stable at 310.29 tons from 2014 through to 2023,
the UK outstanding international reserves increased by approximately 6.64 million U.S. dollars from May 2019 to July 2023. The outstanding reserves are gold reserves held outside the UK but controlled and available to the UK monetary authorities at any point. Gold reserves allow the UK financial authorities to support the value of the British pound while also acting as a guarantee for financial activities such as loans or redeeming bonds.
Investing in gold
Individuals have several choices when choosing how to invest in gold. Funds can be invested in physical gold or in gold-backed securities. Investments can be made in the gold bullion via gold bars or coins provided for the UK market by the Royal Mint.
The revenue of the Royal Mint has experienced significant growth, increasing fivefold in the UK from 2015 to 2023. This increase in revenue reflects the increase in demand for physical gold investment in the UK.
Investments may also be made through gold-backed securities such as ETCs, which are designed to track the price of gold. As of April 2024, boerse.de GOLD ETC, was
the leading gold exchange-traded commodity (ETCs) worldwide, providing an annual return of 11.74 percent.
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