You are here: Home - Investing - Experienced Investor - News -

More people search ‘buy Bitcoin’ than ‘buy gold’

0
Written by: Paloma Kubiak
07/11/2017
Google searches to ‘buy Bitcoin’ overtook searches for the phrase ‘buy Gold’ worldwide, analysis shows.
More people search ‘buy Bitcoin’ than ‘buy gold’

Gold trading shrunk by nearly one third in October compared with the previous 12-month average, according to online marketplace, BullionVault.

The precious metal priced in euros fell 1.4% in October on a daily-average basis, with a drop of 1.8% in sterling terms and a drop of 2.7% against the US dollar.

While falling gold prices have meant buyer numbers are on the up so far in 2017, this figure is 9.7% down in October compared with September. The number of sellers fell even harder at 26.6%.

BullionVault said the price dip came as US stock markets set all-time highs, Brexit is failing to dampen the FTSE and Catalan independence hasn’t dented Europe’s bull market.

But the surge in cryptocurrency Bitcoin has impacted gold. Adrian Ash, director of research at BullionVault, said: “Some investors are being distracted by the noise around Bitcoin and other cryptocurrencies. Altogether that’s made interest from new gold investors the weakest since the metal’s half-decade price lows of end-2015, just the UK referendum and Trump’s election shock helped gold enjoy its strongest annual rise in six years.”

Analysis of Google searches revealed that the number of internet searches for the phrase “buy Bitcoin” has now overtaken “buy gold” after overtaking “buy silver” at the New Year:

Goldbitcoingraph

See YourMoney.com’s Bitcoin and cryptocurrencies: are they a worthwhile investment?, and our guide on how to access the precious metal for more information.

There are 1 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Beware: excess insurance policies can cost more than the car hire

Winter sun seekers hiring a car in Europe could pay more for the excess waiver policy than the cost of...

Close