It is in huge contrast to 1999, when then chancellor Gordon Brown notoriously sold off half of the nation’s gold when the price was at a 20-year low, costing the Exchequer billions of pounds in lost profits.
Gold pays no interest and it can be high risk taking the plunge when prices are near all-time highs. However, a record number of people invested in the metal last year, according to the London Bullion Market Association.
It is a similar story this year, with demand yet to lose its shine. Uncertainty over the conflicts in the Middle East, the Russia-Ukraine war, and upcoming elections in Britain and America are increasing the appeal of gold.
“People are turning to physical gold as the ultimate rainy-day fund,” Mr Walden said. “Holding your gold securely at home or in secure storage gives you true control.”
Mr Walden said the average buyer is ordering a modest £2,000 worth of gold, the equivalent of a 1oz bar or coin.
A 1kg bar, worth around £60,000, is around the size of a small smartphone. The average gold owner in Camden is storing around a third of that size, so the actual physical amount of the precious metal in Britain’s homes remains low.
A little goes a long way, however, as a £10,000 purchase five years ago would now be worth £18,100.
Experts advise those planning on keeping gold at home to invest in a high-security safe and to get insurance cover.