Royal Mint says gold bullion sales at record high as investors flock to safe haven

Sales of gold bullion are skyrocketing as investors look to safeguard themselves against political and economic instability, and also from capital gains tax.

The Royal Mint has reported a nine per cent increase in its revenue from gold bullion sales over 2024, setting a new record high, as reported by City AM.

In the final quarter of 2024 alone, these sales surged by 153 per cent compared to Q3 2023. The Mint witnessed a significant rise in sales across all bullion categories (gold bars, digital gold and gold coins), with the number of people purchasing gold increasing by 12 per cent.

Revenue from bullion coin sales jumped by 56 per cent in the fourth quarter of 2024 on the third, and by 206 per cent on the fourth quarter of 2023.

On 30 January 2025, the price of gold reached a record high of $2,799 (£2,251.31) per ounce, propelled by investors snapping up the metal as a hedge against aggressive US tariff plans.

Stuart O’Reilly, market insights manager at the Royal Mint, commented: "A combination of economic uncertainty and geopolitical volatility have led gold prices to hit multiple all-time highs in 2024. At a time when interest rates are gradually subsiding, investors have been drawn in by the capital growth gold has delivered as an asset class, and the protections safe- haven assets provide. Gold continues to be popular as a secure investment that can help weather financial and political uncertainty, as well as offering diversification for a portfolio."

In 2024, the price of gold surged by over 26 per cent, outperforming the S&P 500. Since 2000, the value of this precious metal has skyrocketed nearly 800 per cent.

Gold investments can also be exempt from capital gains tax (CGT), making it an attractive investment for those who have already utilised their ISA and Sipp allowances before the end of the tax year on 5 April. Britannias and sovereigns, gold coins produced by the Royal Mint, are free from CGT.

However, gold coins manufactured elsewhere, such as South African Krugerrands or American Gold Eagles, along with other forms of gold bullion, are subject to CGT in the UK.