Google Searches For "Buy Gold" Soar 500% After Brexit

Tyler Durden's picture

Three days ago, when Wall Street was virtually certain that the Brexit vote would comfortably go in favor of the Remain camp, the best tell about the true sentiment on the ground had nothing to with polls, or manipulated bookies' odds, and much more to do with our report that worried British savers are scrambling to buy gold bars and "stuffing them in safes at home, data suggests, as fears mount that a Brexit-induced financial meltdown could be just around the corner."

To all those who did convert their soon to be far less valuable pounds sterling into physical gold, and in the process avoided a record devaluation in just one day, congratulations.

However, it turns out that many more did not. And as gold soared overnight, having its best day in years while cable was tanking, suddenly everyone else also had the epiphany that the only true money that preserves its value regardless of the stupidity of politicians or idiocy of central bankers, is gold.

As the Telegraph reports, by 11am London time, BullionVault users had traded £23.5m of vaulted gold and silver since midnight - more than two weeks’ worth of average trading in 2015. And, showing the scramble by the public to buy gold, new account openings by 11am were already twice this year’s daily average.

But it was about to get much worse, or perhaps, batter.

According to Google, the number of internet searches for the phrase "buy gold" spiked by 500% after the Brexit results trickled through around 5am. Investors flocked to the safe haven asset during Asian trading while the pound plummeted to a 31-year low.


Note: "after."

Today, as is customary after the fact, everyone was euphoric on gold: "gold could rise to $1,400 whilst other precious metals such as platinum, offer attractive fundamentals," said James Butterfill, head of research & investment strategy at ETF Securities. Virtually every other investment bank followed suit and even Goldman came out, when the traditionally goldophobic bank had no choice but to raise its gold price target following today's meteoric gold surge.

Which is great, however all of it was, as noted,  after the fact.

The truth as all those who buy gold after the devaluation learn, is that for gold to be a store of value and preserve purchasing power it has to be acquired before some catastrophic, devaluing event, which as yesterday's Brexit showed, tends to be utterly unpredictable.

The good news, of course, is that as the vast majority of the population still expresses little to no interest in the one asset that protects against loss of purchasing power and unlike stocks, is not merely a bunch of 1s and 0s in some server in some warehouse in the middle of nowhere and whose chain of ownership is constantly exposed to counterparty risk, physical gold is and always will be "right there." A fact which continues to amaze how few actually understand.

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FreeShitter's picture

Keep stackin my friends.

nibiru's picture



On more serious note - people learn only through crisis and not proactively so this lesson they should remember for long time - we still have the EU collapse in front of us! 

Moe Howard's picture

You are right. If this is what happens when a non-binding vote is taken, what will happen when something really does take place?

Richard Head's picture

"Don't be evil" - an antiquated notion.

knukles's picture

Perfect Propaganda.
All warm'n cuddly like needen a good beatin'

Svendblaaskaeg's picture

"fuck google"

Startpage search:

About 84,499,530 results (0.24 seconds)

Google search:

About 33.000.000 resultater (0,37 sekunder)

ZH Snob's picture

the neophyte stackers are ready for the fleecing.

but God bless 'em.  you gotta start somewhere.

de3de8's picture

A little late, but never too late

TradingIsLifeBrah's picture
TradingIsLifeBrah (not verified) de3de8 Jun 24, 2016 5:32 PM

I just need some gold paint and some bricks and I've got a quick little business to start up.

ForWhomTheTollBuilds's picture

Gonna put on my MDB hat here:


"Good thing google has been working on algos to supress "untrue" or untoward content in its search results.  As a leading company in the knowledge economy they (and we) have a duty to make sure that the mainstream narrative about gold, supported by econ 101 textbooks and all credible economists is the exclusive result shown to people who might have been misled about gold by an unstable relative."

FX223's picture

Hurry, it's almost too late!

knukles's picture

Mandy now decides she wants to Remain after she voted to leave and she's giving the interview in Heathrow departures?

creeko's picture

Mandy, a  recently former street urchin in Mumbai, was recruited by secret forces to become part of its select troup of paid actors ready to give interviews and play roles in cisis situations.  'Mandy'' is happy and doesn't give a shit about her lying.  A few months ago she was eating insects and bathing in sewage. 

creeko's picture

Look, these people aren't real people.  They're actors and actresses.  Can you not see this?  This story about 'Mandy' with no last name, is a thinly veiled attempt by the media lapdogs to churn up support for a second referendum vote.  It's pretty obvious, no?  Let's just wait and see how long it takes until that option (2nd referendum) becomes part of the 'dialogue'. 

Moe Howard's picture

Fuckin' morons. Nothing actually happened yet. Yet the panic begins.

I suspect it is a very good time to schedule a trip to the UK and buy some pounds now, and prepay your hotel etc.


Am I wrong?

Canadian Dirtlump's picture

You're absolutely right. I only hope that the metals hover higher next week and ignite a mongoloid edition short squeeze.

Moe Howard's picture

This idocracy mob action could cause me to break the "golden rule" and sell a few troy ounces.

RawPawg's picture


Keep it all,and show them..... Who's Da Boss

nothing is more expensive than regret

Bopper09's picture

Mixed emotions here.  I was hoping in 20 yrs when I retire the prices would explode.  I was getting used to buying a kg of silver every month for 740-780 CAD.  But I realize fraud currency will fail against metal, it's inevitable.

0Theorem's picture

A Kg every month? Not very mobile. Unless, of course, the bunker is in the middle of nowhere.

knukles's picture

I was thinkin' that very same thing meself!

Philo Beddoe's picture

Replace toner is up 10,000% at Central Bank IP adresses. 

debtor of last resort's picture

Leveraged ounces in the paper hunt
As Jesse would say
Makes you just another cunt
In their obvious way

bankonzhongguo's picture

Will Comex be the next AIG?

Big June 1 delivery contract and now this.

And to think a bunch of Welsh sheep fuckers did this.

Stevious's picture

It's a perfect set-up for the gold shorts.  I'm short gold.  Let's look back in 3 weeks and see...



MPJones's picture

Interesting - I seem to recall using that particular search term in 2007...

Moe Howard's picture

Gold became popular as the economy crashed. Threats of tanks in the streets will tend to do that.

RawPawg's picture

good luck
might wanna start with the basic prepping stuff first...priorities

Moe Howard's picture

I went to slickdeals and was shocked there wasn't a deal for Pound sterling. lol

coast's picture

"buy guns" was second in line...

One-Eyed-Thong's picture
One-Eyed-Thong (not verified) coast Jun 24, 2016 5:53 PM


One-Eyed-Thong's picture
One-Eyed-Thong (not verified) Jun 24, 2016 5:53 PM


Kirk2NCC1701's picture

Damn Kitco went into "Maintenance mode" last night, right when gold was spiking at 1360, thus preventing me from selling. By the time they came back online, it was back to 1340.

Bass turds!

turbochef69's picture

It was not only Kitco. Buillionstar did the same!!!!!

Crashed EXACTLY when we all wanted to take profits. COULD NOT SELL

Take you money OUT OF BULLIONSTAR!!!!!

Slomotrainwreck's picture

This worked for me. matter of fact, I'm done with Kitco.

But for speculation, I rely on freestockcharts

Latitude25's picture

No shit.  I was loading up when it was under $1100 and shills were saying it was headed for $800.  Where are those cunts now anyway?

Fed_is_Love's picture

Calling you a bearish xenophobic fear monger.

Kina's picture

Too late, I already bought it.