Gold Rush: Wealthy Investors Flock to Physical Assets Amid Economic Uncertainty

The surge in demand for gold has led to a global rush to build vaults for precious metals, as wealthy individuals and families seek to hold their assets in physical form.

Sharps Pixley's underground vault in London is so full that the company is hunting for a new site, while Swiss gold group MKS Pamp is building a 'substantial' vault to cater to its richest clients.

The demand for physical gold bars and coins has been driven by concerns about the future of the US dollar, public debt, and geopolitical chaos, as well as fears that the banking system could collapse.

Central banks have also stepped up their purchases of gold, with many seeing it as a hedge against the deterioration of the US dollar.