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- Rising global uncertainty is pushing up gold prices, with silver prices in tow
More women than ever are buying gold and silver, the Royal Mint has said, as gold prices hit record highs.
The Royal Mint has recorded an increase in the proportion of women investing in the precious metals.
Female investors now make up more than a quarter (26 per cent) of Royal Mint customers, up from one in 12 (8 per cent) in 2018.
The gold price has soared to a series of record highs this week, and is currently at £2,120 ($2,752) an ounce.
Gold has risen more than 30 per cent this year, while silver is up 43 per cent.
You’re indestructible: Gold prices seem to be on an unstoppable rise in recent days
A Royal Mint survey found that 27 per cent of women want to move cash into investments in the next 12 months, with 16 per cent saying they are considering buying gold.
Nicola Howell, chief commercial officer at the Royal Mint, said: ‘This study clearly shows the impact of investment risk and knowledge on female investment participation.
‘While undoubtedly progress has been made in recent years, and more women are expected to invest in the next year, there is a long way to go before a level playing field is reached.
‘We want more women to feel empowered when making investment choices, whether that’s in precious metals or any other asset.’
More than 3,000 people were surveyed for the research.
Earlier this week the Royal Mint said Britons are buying up gold bullion coins instead of gold bars as customers look to avoid rumoured rises to capital gains tax.
That is likely to be driven by concerns that the chancellor will increase capital gains taxon investment profits to 39 per cent in the Budget on 30 October, up from 10 to 20 per cent now depending on your tax band.
Experts expect the gold price to keep rising in the coming months.
How to invest in gold
There are a few ways you can get exposure to the precious metal.
One way is to buy physical bars or coins.
These can either stored at home (ideally with sufficient security and insurance cover) or be held in a secure vault, like the Royal Mint’s, for a fee.
Certain gold bullion coin products issued by the Royal Mint have the status of legal tender currencies and are therefore exempt from CGT and VAT.
You can also invest in gold through exchange traded commodities (ETCs). Tracking the gold price in this way is no different from holding a passive investment in a stock market index.
These are funds, listed on the stock exchange, that provide investors with exposure to the gold price, backed up by physical holdings in bars of gold held in secure vaults.
You can hold ETCs in a Sipp or Isa to protect gains from tax. Investors need to be wary of ETFs that gain exposure through derivatives rather than physically holding the precious metal, as these are complex and can include costs that are not immediately apparent.
Another way that investors can get exposure to gold is through multi-asset funds.
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