Nervous investors ‘buying up bullion’

UNCERTAINTY driven by the election of Donald Trump and last year’s Brexit vote has led to the gold reserves of the world’s largest public sector investors to reach an 18-year high.

State investors hoarded an additional 377 tons of gold last year to reach an estimated 31,000 tons according to Official Monetary and Financial Institutions Forum research seen by the Financial Times.

Gold is traditionally seen as a safe haven asset, and as such is used by investors during times of political uncertainty.

The precious metal’s price soared after Brexit and continued to rise after Trump’s election.

It has also been helped in recent weeks by uncertainty around the UK’s general election and European Central Bank policy, as well as Trump’s ongoing battle with former FBI chief James Comey.