Demand for gold has soared as buyers look to money in on rising costs and keep away from greater taxes.
Gross sales of gold cash – which aren’t topic to capital positive aspects tax (CGT) – had been thrice greater between October and December than in the identical interval of 2023, in keeping with The Royal Mint.
The surge in demand got here as the value soared to a report excessive of near $2800 an oz on the finish of October – up 30 per cent on a 12 months earlier.Â
The Royal Mint stated shopping for was additionally spurred by the hunt for ‘tax-efficient investments’.
Within the Finances in October, Chancellor Rachel Reeves raised CGT – which is paid on the income made on property and investments, like shares, property or artwork when they’re offered – from 10 per cent to 18 per cent on the decrease price and from 20 per cent to 24 per cent for greater earners.
Common gold just isn’t exempt from CGT however as authorized tender, bullion cash offered by the Royal Mint are.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Simple investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and funding concepts
interactive investor
interactive investor
Flat-fee investing from £4.99 per 30 days
Saxo
Saxo
Get £200 again in buying and selling charges
Buying and selling 212
Buying and selling 212
Free dealing and no account payment
Affiliate hyperlinks: In case you take out a product That is Cash could earn a fee. These offers are chosen by our editorial workforce, as we predict they’re price highlighting. This doesn’t have an effect on our editorial independence.
Evaluate the most effective investing account for you
