Investor interest drove gold prices to unprecedented levels in the third quarter, pushing them past $4,360 per ounce. The surge was fueled not only by gold-backed exchange-traded funds but also by strong demand for physical bullion.
The British Royal Mint reported a remarkable increase in bullion coin sales, with total revenue up 102% compared to the same quarter last year and 6% higher than the previous quarter. While exact figures were not disclosed, gold coin sales revenue rose 5% from the prior quarter, maintaining the strong momentum seen earlier in the year. Silver coins were particularly popular, with sales jumping 44% from the previous quarter and 83% year-on-year.
Digital precious metals also saw record growth. The Mint’s VAT-free DigiGold platform recorded total inflows 156% higher than the same period last year, reflecting a rising appetite for online investment options.
According to The Royal Mint, investors are diversifying their portfolios beyond gold, with silver and platinum also hitting record investment levels. Market Insights Manager Stuart O’Reilly noted that both new and experienced investors are turning to hard assets amid ongoing geopolitical and economic uncertainty. He added that October alone saw a 70% increase in the number of buyers, with average spending nearly double that of the previous year.
Interestingly, the U.K.’s strong demand contrasts with trends in the U.S., where gold bar and coin purchases fell to 7 tonnes in Q3 — the lowest level since the pre-pandemic period of 2017–2019, according to the World Gold Council.
