LONDON, 28 June 2016 – Private investors and savers who prepared for the Brexit crisis by buying gold have been taking profit on the metal's sharp jump reports UK personal finance site YourMoney, quoting data and comment from BullionVault founder and CEO Paul Tustain.
BullionVault users dealt more than £10 million of gold and silver by 6.30 on Friday morning as the Brext result broke. Many chose to cash in and take some profit, says YourMoney, making the physical exchange's customer-base net sellers of gold overall.
"This is unusual and counterintuitive," says Paul, "because people tend to think you only ever buy gold because of a crisis, and that retail investors are the tail-end-charlies who always get burned when markets get volatile, buying late at the highest prices.
"This is absolutely not the case at BullionVault. Our users bought a lot of gold into this crisis, and some are selling to bank substantial profits from Friday's shock."
Read the full story at YourMoney here:
