Gold does a great deal more than glister in these uncertain times, and there's almost something primeval about the way we turn to it as an investment when all else around us seems to be failing.

That was the story once again at the Cotswold Auction Company's sale in Cheltenham this month, when both collectors and dealers pressed into the room to battle it out.

Top of their list was this George VI gold proof specimen coin set dated 1937, which had bidders in the room and on the phone and internet pushing it up to £2,800.

Three Krugerrands each sold at £600 , while a Victorian gold £2 coin dated 1887 found a hammer price of £340.

A very large quantity of gold sovereigns of various dates averaged £150 each – and when you remember a commission of 17.5 per cent plus VAT is added to the hammer price, these were very good figures indeed.

Good as gold, in fact.