Gold Bank London has reported a notable increase in gold purchases, with a 25% rise in sales among customers aged 27 to 42 since 2020. This age group has outpaced the average 17% growth seen across other demographics. The data, which encompasses both online and in-store transactions across the retailer’s three branches in West London, East London, and Bradford, reflects a growing trend in the market.
The retailer’s gold sales are primarily driven by investments in gold bars, as well as the purchase of coins, collectibles, and gifts. Gold Bank London’s sales figures indicate a typical 32% price increase over the past year for both gold bars and coins. Larger gold bars are typically bought for long-term investment purposes, while smaller bars are favored as gift items.
In response to rising interest in gold investment, many first-time buyers are turning to the precious metal as a secure investment option. To cater to this demand, Gold Bank London offers a unique buyback program, allowing customers to sell back any gold, in any condition, at any time. Additionally, the company accepts scrap gold and jewelry from individuals, even those who have not previously made purchases from Gold Bank London.
A significant 95% of the gold sold by the company is exclusive to Gold Bank London, with the Phoenix Collection gold bars proving to be particularly popular. These bars are produced in a dedicated facility in London, further adding to their appeal.
Faisel Ali, Founder and Managing Director of Gold Bank London, shared insights on the market’s direction. “Gold prices have continued to soar over the past year, which has reinforced the idea that investing in gold is a smart decision for the future,” Ali said. “Our customers aged 27-42 are proving to be some of the most informed investors.”
Gold Bank London’s exclusive membership program now boasts over 133,000 members and has generated more than £29 million in investments. Members can accumulate points through gold purchases and sales, unlocking various rewards. The company is known for offering the lowest premiums in the market, along with a buyback guarantee for added customer assurance.
