• Insights from royalmint.com reveal increased demand for digital precious metals products following gold’s record rally.
• Physical silver delivered strongest growth during Q1 2026–27, with sales up 85% year-on-year.
• Lower gold prices towards the end of the quarter encouraged investors back to the market.

Precious metals investors have turned to digital products with lower financial entry points in the first quarter of the 2026–27 financial year, according to new figures from The Royal Mint.

Latest transaction data from royalmint.com shows a more measured quarter for bullion sales, in line with wider market activity after gold’s rally earlier in the calendar year. However, demand for VAT-free digital precious metals grew 30% year-on-year. Investments in Digital Gold rose by 14% and Digital Silver by 162% compared with the same period in 2025-26. 

Physical silver delivered the strongest growth across the business, with the value of silver bullion purchased by investors increasing 85% year-on-year.

While some potential investors adopted a more cautious approach throughout the quarter, sentiment shifted as prices softened towards quarter-end. When gold fell below £3,000 per ounce for the first time since October 2025, customers responded immediately. The weight of gold purchased on The Royal Mint's website was 29% above the quarter's daily average, liquidations fell by 29%, and investors bought five times more gold than they sold in a single day.

Existing customers remained consistently active, with the number buying and selling up 17% year-on-year. While fewer new investors entered the market compared to last year, established customers showed greater comfort navigating short-term price volatility.

Stuart O'Reilly, Private Wealth Consultant at The Royal Mint, commented: “After an extraordinary period for precious metals, it's natural that many investors chose to pause and wait for a more attractive entry point and that's exactly what we saw for much of the quarter.

“What's particularly encouraging is how quickly investors responded when prices softened. As gold moved below £3,000 per ounce, customers increased their buying almost immediately, reinforcing our view that many continue to see precious metals as a long-term strategic allocation rather than a short-term trade.

"While interest rate expectations have created some short-term pressure on gold prices, the longer-term investment case remains compelling. Central bank buying, geopolitical uncertainty, fiscal pressures and the need for portfolio diversification continue to provide strong structural support for precious metals, and we're beginning to see early signs that investors are returning to the market as those themes reassert themselves.”