Hi, thanks for the reply. Not sure about zero being the bottom. If you buy an equity for 10 and it hits zero surley this is a 10 loss not zero. But do agree that gold is not bullet proof, as they say past performance does not guarantee future performance. Yet when it starts to rain i would much prefer to be sheltering under a gold umbrella that a hand full of worthless equity certificates. As ishare gold etf directly link to the gold bullion they hold for it to fall to zero the price for gold would have to fall to zero. But you may have a point belt and braces, maybe i should look again at RMAP if things do go south could always nip over to Cardiff for a handfull of the shiny stuff.
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Hi,
I have a few questions. Would you be kind:
_I believe you don’t get tax when you sell/buy gold. Is that true?
_Would you pay a tax if you sell your gold ETF?
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The ETC holds gold bars and not coins, only British gold coins are CGT exempt for UK residents. To buying and selling the ETC on a GIA would not be exempt from CGT. if you have it in an ISA, you are of course exempt from CGT.
Though you can redeem gold as coins, im not sure how the tax would work there so you may have to ask them. (im also not sure how gold redemption would work with Freetrade.). presumably if you can redeem gold from the ETC in an ISA, this would be exempt from CGT even on the physical redemption. but you’d need to do your own research.
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Thank you
Gold ETFs can only go to zero if all the gold backing them is sold. RMAP punishes a daily bar list where each bar can be looked at and verified. also a twice yearly third party gold specialist audit. so can’t be worthless if there is ETFs out there as that means gold is backing those ETFs
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Gold ETFs are usually capital gains but trade at the spot price give or take a few bps. gold coins are tax free but tend to be bought at a significant premium to the spot price circs 5%+ and usually get bought at a discount to the spot price.
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Thanks
Be careful. Some answers are being given to you by sales people of the respective company. Do your research widely.
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yes i did say above i was biased
RMAU is a great product, biased, unbiased opinions welcome :).
Personally and where I am right now (financially, strategically among other things); I will go for Royal Mint Gold coins purchased and stored at their vault. One could say, it will be heavily discounted yes and no. I could store it i. their vault and have it shipped to wherever I want in order to sell it outside the Royal Mint.
I see it as refuge investment that could come handy if things burn around me which would not totally be a sci-fi scenario and I would need a mean of payment and/or maybe I watched too many Jon Wick films:)
@heccy were going to need some disclosure about your employment to be clear to stay within the clear community guideline and avoid an issue.
Can you please either add this to all your posts or to the ‘name’ section under your preferences. This will show under your user name. Thanks
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@Eden this is not true. Promotion of company products is strictly forbidden. Refer to point 5 in Community rules.
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As a public reminder, our community guidelines state:
- Don’t promote your own business or try to take advantage of the forum for your own business, in any form.
While some contributions above are constructive and in keeping with the ethos of the community, others are clearly in breach.
Please do keep these guidelines in mind when engaging in the future.
Thanks!
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