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Gold Comment: Gold sales surge 125% as US, North Korea standoff intensifies
Gold Comment: Gold sales surge 125% as US, North Korea standoff intensifies

Sales at gold investment firm The Pure Gold Company increased by 125% yesterday as tensions between the USA and North Korea intensified, heightening concerns that an attack could have significant adverse consequences on financial markets.

CEO Josh Saul said: “Over 65% of all physical gold purchases came from financial services professionals, including those in banking and accountancy, concerned that global equities will be hit if relations between the US and North Korea deteriorate further. The stock market slid yesterday and the gold price increase by more than 2% on the back of President Trump and North Korea's exchange of words.

“We saw a 64% increase in people purchasing physical gold for the first time citing the breakdown of international relations. Many fear that as allies, the UK are also susceptible to being dragged into an unnecessary and unwanted conflict. We see many of our new enquiries and clients using the opportunity to protect themselves against an uncertain future, especially given the unpredictability of both President Trump and Kim Jong-Un.

“Over the last two days, we have also seen a 72% increase in people removing exposure to global equities within their SIPP and pension to purchase physical gold within the same vehicle. Clients who are within a few years of their retirement are concerned that their pension could lose considerable value because of the threat of war and conflict. Pensioners don't have the luxury of time to wait for their stocks to rebound after a potential equity crash and so the general sentiment is that many would rather convert their gains in the stock market to take advantage of gold investment which is still 20% lower than its peak of 2012. Our clients are not purchasing physical gold to necessarily grow their wealth, the objective is safety, security and wealth preservation." 

Up to date sales and enquiry figures, case studies and comment are available from Josh Saul. Please let me know if you'd like to speak to Josh or require any further information.

About The Pure Gold Company

Pure Gold Company offer a curated investment service which means they will discuss clients’ needs to ensure they are offered the right product. Through this direct communication, they understand who is buying and why (compared with online gold sellers who don’t have the same depth of insight).

Because The Pure Gold Company's sales to retail investors are guided by their consultative approach rather than just purely online, CEO Josh Saul gleans the underlying motives of his clients, and can speak around trends in retail investment in physical gold - with Brexit, the US presidency, economic and banking worries, currency concerns, geopolitical tensions and the expectations for the gold price price all featuring prominently.