2016-06-25 Sat

After the Brexit Poll result demanded Britain to exit the European Union, markets faced a big time blow and the pound value saw a new low. This increased the demand for gold coins and bars on Friday, hitting double-digit percentage gains. For the first time in three years, gold was priced at 1,000 pounds an ounce.

The volatile market has led investors to buy precious metals like gold both from coin shops and online portals as well. Many of these dealers have stated that there is a vast difference in the sale numbers since Friday. The Royal Mint has recorded an increase of 550 percent in the number of visitors on the bullion trading platform since Thursday. There was a rise in the demand for gold coins after the first polls began earlier this month. Many companies had to get emergency stocks from German and Swiss offices.

There is a fear among investors that other countries could also exit the bloc, which has resulted in a high demand for physical gold as well.

Some dealers also took the opportunity to sell their gold after its value increased exponentially, but experts have stated that the number of buyers is far more than the number of sellers.