Interest Rate Uncertainty Weighs on UK Gold Investing

Gold investing retreated in July as uncertainty over interest rates continued to pressure prices. According to BullionVault, UK gold investors saw their sentiment ease back from June's rebound, with the price of bullion experiencing its sharpest fall since the spring of 2013.

The number of UK private investors buying gold dropped by 19.8% in July compared to June, while the number selling fell by 19.4% to a 13-month low. This reduced the UK Gold Investor Index by 1.2 points to 55.0, which is half-a-point above July 2025's reading and 0.2 points above the long-term average.

BullionVault director of research Adrian Ash noted that gold typically trades softer mid-year, but also attributed the current decline in prices to uncertainty over interest rates from central banks such as the US Fed and Bank of England.