UK Gold Stockpiling

There are areas in Britain where investors are stockpiling more gold than anywhere else.The top areas in Britain for stockpiling gold have been revealed by an online bullion dealer. Birmingham-based Bullion By Post has ranked the top 50 areas in the UK for household gold reserves. It comes as the precious metal has become a 'popular investment choice' for households in recent years, with the price of gold rising significantly over the last year. People are buying gold bars and coins as an asset of last resort in times of economic upheaval or uncertainty.

Taking the top spot on the list is Camden, with the average gold investor buying 369g which equates to £22,343 based on current values.

Top areas of gold stockpiling:

Area: Region: Average gold per customer:
Camden London £22,343.00
City of London London £18,599.67
Kensington and Chelsea London £17,673.61
Dorset South West £17,004.02
Highland Scotland £16,658.09
Westminster London £15,942.38
Herefordshire, County of West Midlands £15,132.00
Hammersmith and Fulham, London £14,936.65

Another five London boroughs made the top nine, including City of London, Kensington and Chel-sea, Hillingdon, Westminster and Hammersmith and Fulham. The average number of grams sold per customer over the last decade was calculated to reveal which area was stockpiling the most gold.

Gold bars and coins are no longer the preserve of the wealthy but are instead an increasingly pop-ular investment choice for many people across the length and breadth of Britain.This trend had been caused by events such as Donald Trump's presidential victory in 2016, as well as rising con-cerns about the future.There had been a 'perfect storm' of global economic issues, including the cost-of-living crisis as well as high inflation and high interest rates in the UK.

By buying gold bars, people can store them safely at home and get their hands on them quickly if needs be.Throughout history gold has been seen as a financial asset but in recent years, since the 2008 recession,it has risen in price and popularity. A 1kg bar of gold, around the size of a small smartphone, is worth around £60,000. Experts say that anyone who looks to keep gold at their home should invest in high-levels of security.