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 1,877 euros in March 2024. From a global perspective, the UK is a large consumer of gold, accounting for the majority of Russia’s gold exports in 2022. The UK was overall the third largest importer of gold worldwide after Switzerland and China.
