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BullionVault Says Customer Accounts Climbed 29% Through Oct. 31

Dec. 19 (Bloomberg) -- BullionVault, an online service to buy, sell and store gold and silver, said the number of funded customer accounts climbed 29 percent in its latest year.

There were 42,677 accounts as of Oct. 31, BullionVault said in an e-mailed statement today. Gold held by customers climbed to 31.28 metric tons from 26.3 tons a year earlier and silver assets rose to 332.8 tons from 244.8 tons, Adrian Ash, the company’s head of research, said by phone today.

Revenue still fell 32 percent to 380 million pounds ($618 million) because prices weren’t as volatile, discouraging trading, Ash said. “If the price isn’t moving as much, then people aren’t going to be in and out as much,” he said. “The nature of the market has been one of consolidation across the board.”

To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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