BullionVault’s Gauge of Client Buying Climbs to Six-Month High

BullionVault, an online service for investors to buy and sell physical gold and silver, said its Gold Investor Index climbed to a six-month high in November.

The gauge rose to 56.5 from 56 in October, climbing for a fourth consecutive month, the London-based company said today in an e-mailed report. A reading above 50 means more buyers than sellers. Gold fell 0.3 percent last month and traded at $1,706.32 an ounce by 8:01 in London, up 9.1 percent this year.

The metal is headed for a 12th consecutive annual gain, the longest rally in at least nine decades, as central banks from Europe to China pledged more steps to spur economic growth. Investors boosted holdings in gold-backed exchange-traded products to a record 2,623.4 metric tons yesterday, equal to almost a year of mine production, according to data compiled by Bloomberg and Barclays Plc.

“The background noise of unpayable debts and zero interest rates has only grown louder,” Adrian Ash, head of research at BullionVault, said in the report. “People buying physical gold with a chunk of their savings clearly think the financial risks of 2013 need insuring against.”

BullionVault’s customers own more than 1 million ounces of gold, it said. The metal is stored in vaults in London, Zurich and New York, according to its website.

To contact the reporter for this story: Nicholas Larkin in London at nlarkin1@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter@bloomberg.net

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