In the Press
Media coverage of BullionVault

Bloomberg's Chart of the Day: UK gold investment rises as bank deposits drop

LONDON, 23 March 2009 - Data from BullionVault, the world's leading gold ownership service online, features in Bloomberg News' latest Chart of the Day.

The graphic, available to Bloomberg subscribers, shows UK savers steadily moving to gold as the banking crisis and plunge in interest rates wear on.

"UK savers took a net £2.3 billion ($3.3bn) from bank accounts in January," Bloomberg reports, "the most in at least 11 years."

Nearly £1 in every hundred of that net withdrawal, some £22.3 million, was transferred to buy gold at BullionVault.

Explaining why private investors are switching from cash to gold, "You're relying on your bank's ongoing solvency amid the worst financial depression since the 1930s," the newswire quotes Adrian Ash, BullionVault's head of research, "but you're not being paid anything for taking that risk."

Gold bullion - Buy online at live gold prices.

Bloomberg's Chart of the Day