Investing in gold, where to start?

socratez

I would like to diversify my investments to include gold, buy not sure where to start. I would like to have physical gold, but will I need to pay 20% VAT on purchases? Is the cheapest way to buy gold  by buying "gold certificates" (if that is even possible), and would I avoid VAT this way? Will I have to pay VAT regardless of how I purchase? The Royal Mint do a Digigold service where you dont own or hold the gold, is this a good idea?

Thanks in advance!

Thrugelmir

You can "own" physical gold in a vault by investing via an ETF with Wisdom Tree. 

Albermarle

As above 
WisdomTree Physical Gold Key Statistics | JE00B1VS3770 | Fidelity

ColdIron

socratez said:

but will I need to pay 20% VAT on purchases

No, physical gold does not attract VAT

jimjames

socratez said:

I would like to diversify my investments to include gold, buy not sure where to start. I would like to have physical gold, but will I need to pay 20% VAT on purchases? Is the cheapest way to buy gold  by buying "gold certificates" (if that is even possible), and would I avoid VAT this way? Will I have to pay VAT regardless of how I purchase? The Royal Mint do a Digigold service where you dont own or hold the gold, is this a good idea?

Thanks in advance!

If you want physical gold then using a service that means you don't own or hold the gold wouldn't seem to meet your objectives. I've seen recommendations for Bullion by Post and have used them myself for silver.

goldvaults12

I bought my large gold stocks via my personal bank adviser at my Swiss Bank ( Credit Suisse) and it is safely stored by the bank. You can buy without going personally to Switzerland if you buy a large enough amount but it is best to already know the Bank and have an account there.
If you are just starting out and must buy and store in UK, I cannot really add anything to previous posts. 
I firmly believe that, for all my stocks and shares portfolio, I am better served by my gold holdings especially in these turbulent times. All the best and good luck as you build up your stocks.

eskbanker

goldvaults12 said:

I bought my large gold stocks via my personal bank adviser at my Swiss Bank ( Credit Suisse) and it is safely stored by the bank.

That brought back memories of a pompous poster who used to say that sort of thing a while ago, but of course any similarity will be purely coincidental....

https://forums.moneysavingexpert.com/discussion/comment/77549461/#Comment_77549461

ColdIron

Memories indeed. I was racking my brain for the user name, well for about 10 seconds until I clicked your link

How many Good Delivery bars does that (now banned) Walter Mitty now own?

Albermarle

It's surprising when you look back at old threads ( not just this one ), how many posters are  banned.

Steve182

Have you considered investing in gold miners? 

There are funds such as Amati Strategic Metals which have a heavy bias towards gold miners. 

If you have a reasonable understanding of the stock market there are a fair few junior gold miners on aim with a very attractive P/E. If you're bullish on gold you will appreciate that their SP is quite heavily levered on POG, so profits from investing in them can be far higher than investing directly in the commodity itself. As can be expected the reverse applies if you get it wrong and POG drops, SP tumbles

MayHamrick

Diversifying your investment portfolio with precious metals is a great idea.