Labour chaos fuels 133% surge as investors put money in ‘safe bet’ | Personal Finance | Finance
New data suggests that investors are turning to gold as Sir Keir Starmer’s future remains uncertain. Rising geopolitical tensions, rising government debt, persistent inflation and concerns about the resilience of banking systems have also fueled this shift. Pure Gold Company he thinks.
The firm stated that, according to statistics, there has been a 133 percent increase in demand among investment bankers, lawyers, accountants and senior financial professionals, and 53 percent of gold is now in the hands of “first-time investors.” Meanwhile, there has been a 318% increase in investors turning to physical gold for pensions and SIPPs, “reducing their exposure to the stock markets”, according to experts.
Joshua Saul, the company’s chief executive, said: “Customers repeatedly tell us that they see the recent weakness in gold prices as a significant buying opportunity. Many believe the current price does not fully reflect the level of political and economic instability occurring below the surface.”
“A growing number of customers specifically cite fears about Sir Keir Starmer’s political future and the wider stability of the Labor government.
“Many people are openly questioning whether the UK could once again enter a period where no one knows who will lead the country by the end of the week.”
Mr. Saul added that other macroeconomic factors also play a role.
He said: “Many people are reporting concerns about counterparty risk in the banking system, frustration that cash savings are falling behind the real cost of living, and concerns that inflation will continue to erode purchasing power in the coming years.
“Unlike many traditional investments, UK legal tender gold coins can be sold free of capital gains tax for UK residents, while remaining highly liquid and easily convertible into almost all major currencies worldwide.”
The Makerfield by-election will be held on June 18 and Andy Burnham is expected to enter Parliament.
He could then challenge the Prime Minister for the leadership of the Labor Party and No 10.
If there was a direct competition between Starmer and Streeting, the YouGov poll suggested Sir Keir would win; While 65% of Labor members said they would vote for him, only 15% would seek to replace him with Streeting.
In the alternative contests, Wes Streeting loses by wide margins to Andy Burnham (who would be supported by 80% of Labor members against Streeting’s 10%), Angela Rayner (70% to 19%) and Ed Miliband (58% to 28%).
