(Kitco News) – Although gold and silver are stuck in neutral as rising inflation fears cool investor interest, the current price action doesn’t take away from the unprecedented demand for bullion, as the British Royal Mint reported record demand early in the year.
On Tuesday, the Royal Mint said it closed its busiest-ever financial year as online precious metals transactions reached an all-time high. Although the mint doesn’t provide exact bullion sales figures, it said that capital gains tax-exempt gold bullion sales increased 94% compared to the same quarter last year. At the same time, silver bullion sales saw a massive jump, increasing 1,000%.
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