Royal Mint’s gold sales jump as investors seek safe havens

gold bars

The Royal Mint’s gold sales jumped by a fifth in the first three months of the year, according to figures obtained under freedom of information legislation by Bloomberg.

Following month-on-month declines in the first two months, March gold sales jumped 263pc in volume terms, according to the information sent by email.

Gold sold and stored by the mint under its Signature Gold programme, which allows the partial ownership of bars held in its vault, jumped 178pc in March, compared with a year earlier

The increase in purchases follows a sharp gain in prices, with spot metal increasing in each of the first three months, the longest run since 2012, according to data compiled by Bloomberg.

Trading at $1,275.63 an ounce, it has risen 11pc this year, according to Bloomberg generic pricing.

source”times of india”