World-leading precious metals marketplace BullionVault is seeing the wave of new first-time buyers accelerate as gold hits new all-time highs above $5000 gold and silver tops $100 for the first time ever.
“We’ve never been so busy in 21 years of business, not even during the financial crisis or the pandemic,” says Adrian Ash, Director of Research at the West London fintech, now caring for more than $11.2 billion (£8.2bn) of physical bullion for its global client-base.
“With 5 days still to go, January has already brought more new users to BullionVault than any month before. The move has been led by private investors across Asia and Europe rushing to build their personal holdings of gold and silver.
“US households are sitting it out so far, despite the Dollar falling fast amid the White House’s attack on both its NATO allies and its domestic opponents.”
What’s driving these prices?” asks Ash.
“Trump remains the prime mover for gold and silver. After last year’s near-record jump, everyone in the bullion market has been expecting gold to hit $5000 sooner or later, but the move through $100 silver has caught dealers and traders by surprise.
“Now the market has really got the bit between its teeth, because precious metals’ long-term drivers of debt debasement and diversification have been accelerated by the worsening US domestic political situation and the clear loss of US authority and investment appeal worldwide.”
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