With the world facing unprecedented economic turmoil and uncertainty, record numbers of household investors are piling into gold and silver. In fact, 2022 was a banner year for bullion demand, with the British Royal Mint reporting record sales.
According to an exclusive report by Kitco News, the Royal Mint saw gold bullion sales increase by 25% in 2022 compared to the previous year, which was also a record year. At the same time, silver demand skyrocketed by 29% from 2021.
This surge in demand was driven by a growing number of new investors looking to protect their wealth by owning physical gold. The Royal Mint reported that the number of new customers increased by 5% last year, despite rising interest rates and a strong US dollar.
On a month-by-month basis, the Royal Mint noted that March was their busiest month for gold sales, as geopolitical uncertainty caused by Russia’s invasion of Ukraine increased the demand for safe-haven assets like gold. The mint also saw demand pick up in September and October as domestic political uncertainty rose with three Prime Ministers installed in three months.
Looking ahead to 2023, the Royal Mint sees a healthy start to the year as gold prices hold above $1,900 an ounce, and experts expect the momentum to continue. Andrew Dickey, the Royal Mint’s Director of Precious Metals Investment, stated that he expects bullion demand to remain robust throughout the new year as investors continue to protect themselves from the uncertainty and volatility of global markets.
In summary, owning physical gold and silver is more important than ever as the world faces record inflation, a stumbling stock market, and dismal bond performance. The British Royal Mint’s record sales in 2022, driven by a growing number of new investors, is a testament to this fact. As the IMF warns of a recession, investors can take comfort in the fact that gold and silver have historically been deemed a ‘safe haven’ during economic downturns.
Call the Certified Gold Exchange now and learn how you can protect your retirement from the coming Greater Depression. (800) 300-0715
Recommended for you: Gold IRA Rollover Guide and Silver Investments.
Categories:
US Gold Market
Get Your Free Gold IRA Investor Kit & 7 Blunder Report
Free Investor Kit 
View Charts
