gold and silver investments

dano1234

How do ETF's in gold and silver work, specifically within an ISA ?

- are they taxed?
- is HL a good way to invest in this?

psychic_teabag

H-L are a relatively expensive way to invest in ETFs since their share dealing fees are relatively high, and they charge an annual maintenance fee for anything they don't receive trail commission on. (Well, that's probably over-simplifying...)

dano1234

where would one of the cheapest places be?

while keeping it in the ISA wrapper ?

thanks

mr_fishbulb

dano1234 wrote: »

where would one of the cheapest places be?

while keeping it in the ISA wrapper ?

Do you want to make a lump-sum purchase, or a regular monthly purchase?

hbakhshi

dano1234 wrote: »

where would one of the cheapest places be?

while keeping it in the ISA wrapper ?

thanks

You buy ETF's in the same way you buy shares, hence the name Exchange Traded Funds.

So if you are only interested in ETF's quoted on the LSE, you can use X-O at £5.95 a trade and they offer an ISA wrapper.

So, ETFS Physical Silver (PHSP) and ETFS Gold (BULP) may be of interest.

If the ETF's you want are on an overseas exchange, then you need a broker that deals with that exchange. Look at the usual suspects, TD Waterhouse etc..

sKiTz-0

I'm having some trouble with this.

I'm looking to buy an ETF in physical silver on my share trading account. Although I'd like to do it in £ and not $.

Now I can see PHAG which is ETFS Physical SIlver $, and there is an option to purchase, I can also see PHSP which is ETFS Physical SIlver £, but there is no option to buy at all. As far as I can see both ETFs trade on the LSE.

I cannot for the life of me figure out why it won't let me buy?!

If there is something blindingly obvious that I am missing then I don't mind buying the $ fund, but I'd rather not be open to currency fluctuations as well as price fluctuations and my native currency is £.

Am I missing something obvious here??

Nikel

May seem a stupid question, but are you trying to buy when the LSE is closed??

sKiTz-0

No, I was originally looking earlier this afternoon. I can't fathom it out.

Masomnia

If you buy the fund in £ you're still open to currency fluctuations as the underlying asset is traded in $.

sKiTz-0

Good point, so I shouldn't be to worried then if the only option available is to buy the $ ETF really.

Masomnia

sKiTz-0 wrote: »

Good point, so I shouldn't be to worried then if the only option available is to buy the $ ETF really.

Not as far as I can tell, no.

The silver price in £ is just a function of the $ price and the exchange rate.

There may be a very slight advantage in buying the GBP fund as they may convert at a more competitive rate than your broker, but it's not going to make too much difference.