Gold Bars Sales Up 53% Over Christmas Royal Mint.
The mint also saw growing demand for precious metal from young adults.
They said sales of 1g and 5g gold bars in November and December 2020 were up 53% year-on-year – which may indicate an increase in people giving gold as gifts.
In the final quarter of 2020, The Royal Mint introduced special 1g and 5g gold bars for Diwali and Christmas, which contributed to significant growth as consumers sought investment gifts.
Younger customers aged 22 to 37 who bought gold in the course of the coronavirus crisis in 2020 saw a 32% increase.
Gold is often viewed as a “safe haven”, especially in times of uncertainty and crisis, but like other investments, prices can go down as well as up.
The royal coin has grown rapidly in the precious metals market in recent years.
In addition to making investment coins, the company offers digital investment platforms that allow investors to buy and sell gold without taking the metal into custody.
According to The Mint, the DigiGold platform has proven particularly popular with millennials, while the Little Treasures offering is a gold-backed savings account for children.
In November and December, total gold sales increased 510% year over year, according to the mint.
Andrew Dickey, Head of Precious Metals at the Royal Mint, said: “Gold continued to shine in the final quarter of 2020 as people searched for precious metals to invest in safe havens, but also for nifty Christmas gifts.
“We’ve seen a 53% increase in customers who bought our 1g and 5g gold bars that are given as gifts to help people save for their future.”
He said the Royal Mint has made it easier to access precious metals online, adding, “Throughout 2021, various fiscal and monetary policies – both traditional drivers of gold demand – will evolve to support the global economic recovery.
“Against this background, we expect that the demand for our precious metal products will continue to shine.”