Walsall and Wolverhampton emerging as 'unlikely gold-buying hotspots', new research shows

Wolverhampton-based precious metal traders The Gold Bullion Company say buyers from the Black Country made up almost 15% of their total sales value last year - almost double that of buyers in London.

Just over 73% of all the firm's gold sales in Walsall were for solid gold bars, while in Wolverhampton 83% of buyers decided to invest their cash into gold coins. 

However, customers from Wolverhampton and Walsall only made up around 2.5% of the total orders, indicating that while there may have been fewer, they were higher in value than locations such as Edinburgh, Hounslow, and Birmingham.

The figures come on the back of a record year globally for sales of gold and other precious metals, which some analysts have put down to increasingly volatile financial markets, with buyers seeking a safe-haven for their investments. The price of gold hit an all time high in October, and has seen a further surge in the wake of the US election result.

"Walsall might not be the first place that springs to mind when thinking of gold, but this industrious town has emerged as a major player, contributing 6.2% of revenue in 2024," said Rick Kanda, Managing Director of The Gold Bullion Company.

“There have been a range of reasons for the all-time high gold prices, however, they nearly all come back to the fact that gold is a stable investment. Gold has historically been seen as a reliable store of value during economic and political uncertainty, making it unsurprising that a record number of investors backed gold in 2024.

“There’s no denying that 2024 was a record year for gold. It’s reached colossal new highs and broken records that none of us expected. This is thanks to a result of economic uncertainty, changes in global inflation and also increased demand for this commodity."

In terms of total orders, the capital led the way with one in twelve orders being placed in the city, with Manchester taking second spot, responsible for more than one in 50 (2.1%) of orders.

“It’s predicted that by the end of 2025, gold will rise to $3,000 per troy ounce and thanks to its increased rises throughout this year, I fully expect that this will be the case. As we move into the new year, I predict that gold will continue to see significant increases, especially if economic instability continues," added Mr Kanda.

“Another factor potentially making gold a lucrative commodity to invest in is geopolitical tensions and any monetary policy changes as throughout these changes, it’s likely gold will continue to retain its worth during uncertain times.”