Gold traders said they had seen unprecedented levels of sales in the past month following a "flight to safety" among investors.
One of London's leading bullion dealers said business had tripled in the past month.
It said one of the most popular purchases among savers is a 100 gram bar of gold retailing at about £1,800.
Alex Baird, a trader at Baird 7 Co, said: "We have being selling unprecedented levels of gold, and are doing three times the amount of business in the past month.
"People are unwilling to put their money in the banks and so where else do they put it? Gold is safe and tangible, something they can hold in their hands during all of this economic turmoil."
Gold has been trading on the markets at £552 an ounce. It is the highest level since records began in 1717.
The average investor buys between £10,000 and £50,000 in bars on each visit, but it is possible to buy as little as a half sovereign coin, which costs about £70.
Adrian Ash, head of Research at BullionVault, said: "The only winners in this credit bubble so far have been gold investors. Gold has done just what it should - protecting British investors and savers against the sharp drop in domestic purchasing power.
He added: "Since the Bank of England began cutting interest rates a year ago, we've seen the number of UK investors choosing to own gold rise by more than 130 per cent."
