An online platform for trading precious metals says a clear result to the UK elections - which had been a cause of market uncertainty in the weeks beforehand - hasn't dented a rising desire for gold in the UK.

Larger investors are returning to gold in the UK, a process that was seen as uncertainty grew ahead of the 7 May general election and has continued even after there was a clear victory, according to online physical precious metals market BullionVault.com.

In the case of gold specifically, the average purchase size amongst customers depositing £100,000 ($154,936) or more is now 26 per cent greater by weight so far in 2015 than the 2014 average, and 20 per cent greater than in the same period last year. UK residents have made 40 per cent of 2015's larger deposits to date, but accounted for only 27 per cent during the same period last year, the firm said in a statement.

“It is difficult to find value [in many mainstream markets] right now,” Adrian Ash, head of research, told this publication. He said that the trend of increased demand for the yellow metal continued after the election, suggesting that appetite for gold is relatively broad-based.

The spot price of gold has been as low as $1,150 per ounce in mid-March to more than $1,200 at the start of this week (source: BullionVault). The price is still some way south of its record of over $1,912 seen during August 2011 when there were wide fears of a eurozone break-up.

The total number of deposits from clients wanting to buy gold or silver has risen 4.4 per cent year-to-date from the same period in 2014. The firm said its holdings stand at a record 33.7 tonnes, a rise of 0.9 tonnes from the start of the year.

The firm said that based on figures from the World Gold Council, the net addition to BullionVault clients' gold holdings during the first quarter of this year equated to 0.9 per cent of private investors' gold bar and coin demand across Western Europe and North America.

The firm says its services are used by a range of customers, of which 85 per cent are self-directed in their investment decisions. A quarter (27 per cent) holds between 1-10 per cent of their investable wealth in gold or gold-related assets whilst a third (36 per cent) holds between 10 per cent and 30 per cent. Around a fifth of BullionVault’s clients holds 50 per cent or more.

"While we're seeing a broad-based upturn in private investors buying physical gold so far in 2015, there's a notable increase in activity amongst larger accounts, and it's being led by UK investors. Anxiety over the election clearly added urgency to buying gold in early spring. Deeper concerns remain over sterling, the value of gilts, and the twin deficits of government and the UK's current account with the rest of the world,” Ash said.