The top areas in Britain for stockpiling gold have today been revealed by an online bullion dealer.
Birmingham-based BullionByPost has ranked the top 50 areas in the UK for household gold reserves.
It comes as the precious metal has become a ‘popular investment choice’ for households in recent years, with the price of gold rising significantly over the last year.
The company says people are buying gold bars and coins as an asset of last resort in times of economic upheaval or uncertainty.
Taking the top spot on the list is Camden, with the average gold investor buying 369g which equates to £22,343 based on current values.
The top nine areas for stockpiling gold in the UK according to BullionByPost
Pictured: A MailOnline graphic showing how the price of gold has risen significantly over the last year
Gold has become a ‘popular investment choice’ for households in recent years, the firm says
Five other London boroughs made the top nine, including City of London, Kensington and Chelsea, Hillingdon, Westminster and Hammersmith and Fulham.
The firm calculated the average number of grams sold per customer over the last decade to reveal which area was stockpiling the most gold.
Pete Walden of BullionByPost told The Telegraph: ‘Gold bars and coins are no longer the preserve of the wealthy but are instead an increasingly popular investment choice for many people across the length and breadth of Britain.’
Mr Walden said the trend had been caused by events such as Donald Trump’s presidential victory in 2016, as well as rising concerns about the future.
He said there had been a ‘perfect storm’ of global economic issues, including the cost-of-living crisis as well as high inflation and high interest rates in the UK.
Taking the top spot on the list was Camden (pictured) with the average gold investor buying 369g which equates to £22,343 based on current values
By buying gold bars, people can store them safely at home and get their hands on them quickly if needs be.
Throughout history gold has been seen as a financial asset but in recent years, since the 2008 recession, it has risen in price and popularity.
A 1kg bar of gold, around the size of a small smartphone, is worth around £60,000.
Experts say that anyone who looks to keep gold at their home should invest in high-levels of security.
| Area | Region | Average gold per customer | |
|---|---|---|---|
| Camden | London | £22,343.00 | |
| City of London | London | £18,599.67 | |
| Kensington and Chelsea | London | £17,673.61 | |
| Dorset | South West | £17,004.02 | |
| Highland | Scotland | £16,658.09 | |
| Westminster | London | £15,942.38 | |
| Herefordshire, County of | West Midlands | £15,132.00 | |
| Hammersmith and Fulham | London | £14,936.65 |