Gold sales skyrocket on fears of another ’08-style financial crisis

Gold sales skyrocket on fears of another ’08-style financial crisis
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BullionByPost, Britain’s biggest online gold dealer, said it has already taken record-day sales of £5.6m as traders pile into gold following fears the world is on the brink of another financial crisis.

Rob Halliday-Stein, founder and managing director of the Birmingham-based company, said takings today had already surpassed the firm’s previous one-day record of £4.4m in October 2014.

BullionByPost, which takes orders of up to £25,000 on the website but takes higher amounts over the phone, explained it had received a few hundred orders overnight and frantic numbers of phone calls this morning. …

Russia’s central bank stockpiled the most gold last quarter, adding an estimated 60 tonnes to its reserves. The country bought around 200 tonnes of gold last year, 141 tonnes of which is thought to have been snapped up over the summer.

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