Gold set a new record in Britain after surpassing £3,000 per ounce for the first time, following a break above $4,000 in global markets. London trading saw gold trade at £3,012.95 per ounce, up £120.95, as investors flocked to safe havens. The number of new UK investors on the BullionVault platform rose by 87% in September, a year-on-year jump of more than 213%. The London Gold Market Auction (LBMA) also set a record price of $4,034.75 per ounce, surpassing the previous all-time high.
Gold in London has risen 52% since the beginning of 2025, prompting companies like Ramsdens to raise their profit forecasts thanks to a 15% increase in sales. Analysts believe the significant increase reflects fears of political and economic turmoil in both the United States and France. The data also revealed that Britain’s gold reserves fell to 17th place globally, with just 310 tons, down from seventh place at the beginning of the millennium. The United States continues to top the list with 8,133 tons, valued at over $1 trillion for the first time, followed by Germany, Italy, and France. Poland, Turkey, and Kazakhstan also recorded the largest increases in their reserves this year.
