Physical Gold Respond to Gold Heading for Biggest Weekly Gain in One and a Half Years

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Leading UK gold dealer, Physical Gold, has responded to gold achieving record price rises this week.

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Bullion has managed to continue to attract buying despite a drop in price, with dealers even reporting a shortage in gold bars, coins, nuggets and other products.

Gold was up by more than 1% on Friday as it headed for its biggest weekly gain in one and a half years as lower prices triggered bargain-hunting and a surge in physical buying in Asia.

Bullion has managed to continue to attract buying despite a drop in price, with dealers even reporting a shortage in gold bars, coins, nuggets and other products.

Gold was up $6.26 at $1,473.25 an ounce by early on Friday morning; it’s strongest since April 15. Gold is poised to be up around 5% for the week, after having its biggest daily rise since June on Thursday.

The precious metal was also supported by prospects of more central bank buying after Russia and Turkey raised their gold reserves in March.

A spokesperson from Physical Gold said:

“Gold is making a fantastic recovery as its recent lower prices have boosted demand dramatically as people take advantage of bargain prices. The fact that dealers are running low in gold supplies is a positive sign for the future of gold investment.”

Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.

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Dan Fisher
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