Gold is hard to come by in the United Kingdom

Gold traders in the UK are still seeing a surge in demand for gold and silver, according to reports Reuters. The decline in the British pound and the high volatility in the financial markets makes physical gold attractive as a safe haven. The gold price even broke through the £1,000 per troy ounce barrier, a level not seen since 2013.

Queues are even starting to form at some gold dealers. People mainly buy gold coins from their own country, such as the Golden Sovereign and the United Kingdom. The sales of these investment coins are so fast that stocks have to be replenished.

Gold bars and gold coins in high demand in the United Kingdom

More interest in buying gold

The Royal Mint, the British mint that also offers storage of precious metals, saw 5.5 times as many visitors to the site on Friday as on the day of the referendum. More new gold accounts were also opened. Buying gold through the mint has become more attractive now that it has been accepted as a fully-fledged pension investment.

Another major British gold dealer has exhausted all her stock of gold Britannia coins and kilobars and has even had to bring in new stock from Germany and Switzerland. Savers buy gold because they see it as a way to protect their wealth.

A gold trader offering gold in storage online traded £23.5 million worth of gold and silver on Friday. That's comparable to the volume traded in a two-week period last year. Also at Hollandgold a lot of gold was traded in recent days. It is striking that the price increase of Brexit was a reason for several customers to gold to sell.