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How do Gold ISAs compare with other ISAs?

Nightingale23
Nightingale23 Posts: 1 Newbie
edited 10 August 2024 at 12:22AM in ISAs & tax-free savings
Has anyone any information on ISAs that track Gold? And who might be offering them?

Comments

  • nottsphil
    nottsphil Posts: 695 Forumite
    Part of the Furniture 500 Posts Name Dropper
    edited 3 July 2024 at 4:12PM
    To answer the thread title directly, it depends on the price of gold and therefore how long term the investment would be.
    Which kinda suggests you need to read some of the basics, which you can find here.
    https://www.isa.co.uk/investment-isas/gold-isas/
    Don't make any investment (bet?) without reading as far as
    'For example, Hargreaves Lansdown currently does not charge investors for holding Gold ETFs in their General Investment Accounts (GIAs), however, within an ISA they charge 0.45% per annum (capped at £200) for these same holdings.'
  • gravel_2
    gravel_2 Posts: 628 Forumite
    Seventh Anniversary 500 Posts Name Dropper Combo Breaker
    Plenty of gold investment products that can be held in a normal S&S ISA.
  • dunstonh
    dunstonh Posts: 119,844 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    How do Gold ISAs compare with other ISAs?
    What do you mean by other ISAs?

    Modern S&S ISAs can hold around 30,000 different investments and a near-infinite range of investments.

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Prism
    Prism Posts: 3,848 Forumite
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    You have the wrong terminology. An ISA can hold a fund that tracks the price of gold. 
  • nottsphil
    nottsphil Posts: 695 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Prism said:
    You have the wrong terminology. An ISA can hold a fund that tracks the price of gold. 
    Isn't that like saying a fixed rate cash ISA is wrong terminology because it primarily  holds a savings account?
  • gravel_2
    gravel_2 Posts: 628 Forumite
    Seventh Anniversary 500 Posts Name Dropper Combo Breaker
    nottsphil said:
    Prism said:
    You have the wrong terminology. An ISA can hold a fund that tracks the price of gold. 
    Isn't that like saying a fixed rate cash ISA is wrong terminology because it primarily  holds a savings account?
    Why not ask the government? https://www.gov.uk/individual-savings-accounts

    There are four categories of ISA. Cash ISA is one of them but I can't seem to find "gold ISA" on that page?
  • nottsphil
    nottsphil Posts: 695 Forumite
    Part of the Furniture 500 Posts Name Dropper
    gravel_2 said:
    nottsphil said:
    Prism said:
    You have the wrong terminology. An ISA can hold a fund that tracks the price of gold. 
    Isn't that like saying a fixed rate cash ISA is wrong terminology because it primarily  holds a savings account?
    Why not ask the government? 
    I can't, we haven't got one at the moment 😁
  • DavidT67
    DavidT67 Posts: 530 Forumite
    Part of the Furniture 100 Posts Name Dropper
    edited 4 July 2024 at 1:54PM
    The government continues to function without a parliament just fine.
    Some might say it works even better without MPs  :p
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