Man buys £1.5m worth of gold on mobile app amid Donald Trump’s tariff chaos
AN investor bought gold bullion worth £1.5million — at the push of a button on a mobile phone app.
Last Sunday’s online transaction is believed to be one of the biggest of its kind.
And the punter made £125,000 in just seven days after the price of gold shot up amid the tariffs turmoil in the US.
A source said: “The client wants to stay anonymous but it’s extraordinary someone can buy that much gold, worth that much, and not leave the house.
“It’s not even on a computer but at the push of a button on a mobile phone app. It’s just staggering.”
The client of online gold dealer BullionVault purchased 20.44kg of gold at a price of $3,043 (£2,229) an ounce. That then jumped to $3,229 (£2,527).
It means their $2million (£1.5million) investment was this weekend worth $2,122,697 (£1,627,435).
Demand for gold — seen as a safe haven during markets mayhem — is up a record 137 per cent after Donald Trump’s trade tariffs wiped trillions off stocks and shares.
Rick Kanda, boss of The Gold Bullion Company, in Wolverhampton, said: “Buyers are worried about the gold shortages this might cause.”
Adrian Ash, of BullionVault, added: “The idea that investing in gold is only for the wealthy is an out of date myth.
“Today, investors can use their phone to buy and sell physical gold, safely stored at low cost in high security vaults.”
Trump coins a brand new word
Donald Trump has coined a brand new word called “PANICAN” to refer to people who he thinks are “weak and stupid” and get panicked easily.
Posting on Truth Social, Trump told Americans not to be a “PANICAN” amid his tariff war.
He said: “The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!).
“Be Strong, Courageous, and Patient, and GREATNESS will be the result!”
Since Trump posted the term on social media, it has gone viral and received hilarious reactions from users.
Reacting to the new word, a user wrote on X: “Oh phew. When I heard Trump created a new word, I thought that meant we were invading Panama and Canada today.”
While another user said: “Trump switches parties, becomes Panican.”