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UK Home Insurers Fail To Keep Up With The Price Of Gold

Topics [ bullion coins ]

IN THE NEWS

The increasing value of gold has caught many householders in the UK potentially underinsured, MoneySupermarket has revealed.

Analysis of its quotes showed that specified items of gold on insurance policies more than doubled between Spring 2010 and Spring 2012.

Despite gold having risen 43%, the value of gold listed on insurance policies had not risen in line, it said in the latest MoneySupermarket Monitor newsletter.

A third of UK adults are estimated to have bought items of gold recently, with 16pc buying it as an investment. "Most of these items are likely to be jewellery, however, as investors are repeatedly warned it is unwise to keep their wealth in gold coins or bullion at home,” a British press report said.

Earlier this month an 82-year-old was robbed of seven gold sovereign coins worth almost £7,000 during a daylight burglary at a Plymouth home.

(For more information about secure storage of gold and silver bullion coins and bars at The Perth Mint, click here.)

Overnight... up US$31.90 to US$1,608.10 an ounce, gold futures in New York had their best finish since July 5. Silver futures jumped 66 cents to US$27.47 an ounce.

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