The UK's gold market- statistics & facts

Gold has been valued in the United Kingdom (UK) and across global society for thousands of years and today remains one of the world's leading commodities, offering a range of financial uses. Individuals often turn to gold in times of economic instability, as gold can be used to hedge against economic risks such as inflation or currency devaluation. As the UK faces political, economic, and financial challenges, the monthly price per ounce of gold in the UK has increased from 1,446 euros in March 2021 to 1,750 euros in May 2022. From a global perspective, the UK is a large consumer of gold, accounting for the majority of Russia’s gold exports in 2021. The UK was overall the third largest importer of gold worldwide after India and Switzerland.

Gold reserves

Gold reserves in the UK have experienced growth in recent months. Although local gold reserves in the UK have remained stable at 310.29 tons from 2014 through to 2022, the UK outstanding international reserves increased by approximately 5.6 million U.S. dollars from May 2019 to May 2022. The outstanding reserves are gold reserves held outside the UK but controlled and available to the UK monetary authorities at any point. Gold reserves allow the UK financial authorities to support the value of the British pound while also acting as a guarantee for financial activities such as loans or redeeming bonds.

Investing in gold

Individuals have several choices when choosing how to invest in gold. Funds can be invested in physical gold or in gold-backed securities. Investments can be made in the gold bullion via gold bars or coins provided for the UK market by the Royal Mint. The revenue of the Royal Mint has experienced significant growth, increasing fourfold in the UK from 2015 to 2022. This increase in revenue reflects the increase in demand for physical gold investment in the UK. Investments may also be made through gold-backed securities such as ETCs, which are designed to track the price of gold. As of September 2022, Wisdom Tree Core, Xtrackers IE, and boerse.de were the leading gold exchange-traded commodities (ETCs) worldwide, each providing 16 percent annual return.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, May 30, 2023

Key insights

European retail investment demand for physical gold
67.8 tons
Projected gold demand for China
1,298.5 tons
Export value of gold from India
77m USD
Get more insights

Editor’s Picks Current statistics on this topic

Monthly close price of one kilogram of gold in London (UK) from January 2018 to October 2022 (in GBP)

Financial Instruments & Investments

Monthly close price of gold in London 2018-2022

Leading gold mining stocks on the London Stock Exchange (LSE) in 2022, by market cap (in billion GBP)

Stocks

Leading gold mining stocks on the LSE 2022, by market cap

Monthly gold holdings of the Bank of England (BoE) from January 2018 to September 2022 (in fine troy ounces)

Financial Instruments & Investments

Monthly gold holdings of the BoE January 2018-September 2022

Related topics

Recommended

6

Recommended statistics

Overview

3

Overview

Gold reserves

3

Gold reserves

Gold performance

3

Gold performance

Gold investment

5

Gold investment

Supply and demand

5

Supply and demand

Further reportsGet the best reports to understand your industry

Investment banking
Investment banking
European Central Bank
European Central Bank
Gold as an investment
Gold as an investment
Securities market in the United Kingdom (UK)
Securities market in the United Kingdom (UK)
The Inflation Crisis
The Inflation Crisis
Cost of living crisis UK
Cost of living crisis UK

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)
Email
support@statista.com

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)
Email
asia.support@statista.com

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)
Email
support.japan@statista.com

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)
Email
eu.support@statista.com

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)
Email
latam@statista.com

Mon - Fri, 9am - 6pm (EST)

Menu