Further international conflict has caused the gold price to push near all time highs, the gold spot rose to £2,540 per troy ounce, in the early morning of 13th June 2025. This price push fell just short of the £2,600 per troy ounce record achieved this year.
The Israel and Iran flare up drove gold prices back up to highest level we have seen for several weeks. Safe heaven buyers pushed the price 1.5% over night with news breaking of the escalating conflict, while global share prices fell. The gold price in the UK was also driven by a weakened pound, giving you a further upside if you are looking to cash in your gold today.
The recent press coverage over the Middle-East tension has created the recent spark, but there are three deeper forces keeping the price high. Firstly, investors have piled money into gold ETFs during the first quarter of 2025, this doubled total investment demand to 552 tonnes. Second, global central banks have bought 244 tonnes of gold between January and March this year. Third, a weaker pound makes every gram of gold you sell in the UK worth that bit extra.
As we often see, price swings based on headline news will usually cool off, retrace if there is no further headlines to continue price movement. Commodity analysts expect gold to test new highs, yet history shows that rapid price climbs tend to retrace when risk appetite returns. If the Bank of England decides to cut interest rates soon, the pound could rebound and trim the pound-denominated price you receive. Interest rate cuts are not expected soon in the UK, with the recent announcement of the inflation rate increase.
Gold recycling flows have actually slipped this year according to gold.org, so gold buyers like us are paying a very high percentage of the gold spot price to secure stock while prices remain elevated.
At Cheshire Gold Xchange, we offer highest gold prices in the North West. You get a live, transparent quote the moment you enter your weight into our gold price calculator. We buy everything and anything made of solid gold, including sovereigns, Britannias, bars, broken chains, and even dental gold. We pay instantly at our store in Warrington, or same day if you post your gold to us.
Receive your prepaid, insured envelope to send your gold to us. Find out more visit Sell Gold Online
