The price of gold has rocketed since the end of 2013 with an ounce breaking through the ?820 barrier for the first time since November as the price increased by 12.5%.

Ed Pearce, Managing Director of Douglas-based gold bullion depository and trading company IMGold, commented:

“The latest gold price confirms what we have been experiencing in our first five months of business at IMGold - investors are increasingly turning to gold as a secure means to hold their wealth. The price is still a long way from its 2011 high of ?1,161, but this latest news shows once again that we are in an interesting and exciting time for the industry.”

IMGold was launched in October 2013 and is the trading name of Isle of Man Bullion Ltd which can buy, sell and store gold and silver bullion. Based in Victoria Street, Douglas, it has offices and below ground vaults which are electronically protected and monitored by G4S with security systems equalling or exceeding industry standards. For more information go to www.imgold.com or call +44 (0)1624 888 888. The website features live market price charts which also allow customers to view gold price charts spanning up to 20 years.

The latest news about the price of gold comes just two weeks after a World Gold Council report showed that investment in gold bullion and coins is at an all-time high. The Council is the market development organisation for the gold industry and considered to be the global authority on the precious metal and its uses. It is also the primary source of informed opinion about the industry. Figures in the Council’s annual Gold Demand Trends Report for 2013 showed that total bar and coin demand surged to a new record of 1,645.1 tonnes last year.

Photo -A graph showing the recent increase in the gold price.