Why is the Gold price rising?

What is happening with Gold at the moment? A huge rise in price value for a scrap gold dealer and seller since Brexit, that’s what!

The gold price soared against the pound at the fastest pace ever this week in the aftermath of Brexit.

Pre Brexit the metal was dropping in price due to strong expectations of a remain vote. However reports and indeed the actual gold price suggest an increase of 22 per cent to a spot price high of nearly £13.00 per gram!

Gold is seen as a safe haven at times of market turmoil and that is certainly what we face today. The FTSE lost £120bn of its value before recovering slightly, the pound hit 30-year lows and markets as far away as Japan plummeted eight per cent.

It seems the search for a safe haven for us mere mortals hoping to make a shekel or two has effected us too: Google revealed that the number of searches for the phrase "buy gold" spiked by 500 per cent recently.

May long the current prices for gold last!