CoinInvest, a European based online gold dealer, has claimed that on January 16th, as the cryptocurrency values were dropping dramatically, the company sold over $1 million worth of gold (around 30 kilograms of gold). It has been a particularly volatile week for cryptocurrencies, and it is believed that some investors were on the lookout for some more stable assets in the meantime.

This could have potential links to this spike in gold sales during the same period. At the same time as there was a 40% crash in digital currencies, gold sales were rising massively. It is a curious situation where there is a positive inverse for traditional investments against cryptocurrencies at this time.

It wasn’t just CoinInvest that experienced a surge in sales this week, with GoldCore LTD in Ireland also seeing cryptocurrency investors cashing out and purchasing gold over the last few months.

With customers worried about digital currency prices and whether investments in this market are a higher risk than in a traditional investment such as gold, it will be interesting to see whether these two opposing sides of the investment market remain joined together for the foreseeable future.