Atkinsons Bullion & Coins

One of our favourite songs of all time is Tears For Fears - Mad World.

The chilling tones lead to the wonderfully simple lyrics;

When people run in circles it's a very, very
Mad world, mad world

Running in Circles

Running in circles has certainly been the way of the world, as we reflect on the week gone by and the start of a new one. The last seven days have seen so much volatility for all markets.

The stock markets around the world have crashed! No wait a minute they are up again and passed where they started the week. Crazy!

Cryptos have crashed- again- but hang on they are now climbing and diving every single day by as much as 20% or even more.

Oil is back down 10% from its dramatic climb in price over the last three months.

Platinum which used to be the same price as Gold is now £250 per ounce lower than the current gold price, and the spread for buying and selling in Rhodium is up to 15%.

There is even talk of peace on the Korean Peninsula. For now.

Our Favourite Precious Metals

As for Gold and Silver, last week as a dealer was particularly difficult. On any given day, normal trading would see a spot price maybe moving up by £5 or down by the same amount. Based on last weeks’ evidence, we are seeing movements within the trading day of up to £15 in either or BOTH directions in a very short period of time!

For example, one day last week I checked the price at 6am and saw £946 per ounce for Gold. When I arrived at the office just after 8am it was down to £940 per ounce. During the day the price then moved up as high as £955 per ounce and finished our trading day at 5pm back down at £949 per ounce.

What’s Going On?!

With all this movement, at what time of day do you actually buy?

We have never said we have all the answers, but under these circumstances, we suggest that a long-term attitude is the way to go. Think about buying when you have the money to do so and don’t worry about what happens to the price in the next 24 hours after you have purchased.

Gold Is Up!

With electronic trading from individuals and institutions all around the world, these mad spreads may well continue in the short term, but keep your eye on the longer-term trend. Gold is up. Particularly in USD terms but also, albeit by a smaller rate in GBP. Gold is moving in the right direction.

For sure it will deviate and change, sometimes dramatically in the short-term, but when we are in this to protect our family’s wealth over a much longer period than that, the long-term is the final judge and jury.

Those are the principles behind keeping some physical gold and silver in your hand.

Good luck and keep the faith.

As they say, it’s a Mad World.

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This blog represents one person’s opinion only. Customers should conduct their own research and take advice before making an investment. We do not offer investment advice.


2 Comment(s)

Hi Ian,

You can find selling prices in our Sell to Us section here -

Thanks for getting in touch.
Hi what is the price to sell silver at the moment please thanks Ian

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