If you are looking for a gift this Christmas, the Royal Mint has released a new gold bar
If you are looking to splash out on something different this festive season, the Royal Mint has released its new Christmas gold bar for £65.
It contains 1g of 999.9 fine gold and comes in Christmas-themed packaging. There is free delivery in the UK.
Why should I care?
The price of gold has risen by over 12% to $1,455 this year as investors have sought shelter for their cash from the stormy markets.
Gold also retains its value in times of financial uncertainty, which means it can be a smart investment.
Myron Jobson, personal finance campaigner at Moneywise’s parent company interactive investor, says: “The attraction to gold is simple. While bonds perform badly in a high interest rate environment and the price of equities can fall amid economic woes, gold boasts a long track record of maintaining its value.
“Gold is scarce and more can’t be produced at will. This is why the metal tends to maintain its value over time.”
Other ways of owning gold
You can buy coins and bullion bars, either to hold yourself or to be held by a dealer. You can also invest in shares of gold mining companies or funds and investment trusts that specialise in this sector.
One of the easiest ways and cheapest ways to invest in gold is through an exchange traded commodity (ETC) that tracks the price of gold.
Myron adds: "We recommend the iShares Physical Gold ETC which aims to track the spot price of gold. With ongoing charges of 0.25%, it is an easy, flexible and cheap way to invest in the asset.
“Unlike many commodity funds, iShares Physical Gold ETC buys gold bullion instead of gaining exposure to the metal by buying derivatives, financial contracts that are derived from the asset but have no direct value in and of themselves. The gold bars allocated in this ETC for investors are held in a separate account in JP Morgan Chase Bank’s vaults. “
Where can I find out more?
You can find out more on the Royal Mint website.
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