Protection against currency debasement
Gold cannot be printed or diluted. When governments expand the money supply, the purchasing power of cash erodes. Over the long term, gold has historically held its value in real terms.
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Why hold physical gold?
Gold has outlasted every paper currency ever issued. Today, it remains one of the few assets held by private investors and central banks alike as a long-term store of wealth.
A proven portfolio hedge
Gold often moves independently of equities, bonds and property, and has tended to hold up in periods of market stress. A strategic allocation may help reduce overall portfolio volatility.
No counterparty risk
Physical gold held outright is not someone else's liability. It does not depend on the solvency of a bank, fund or platform. You own the asset itself, not a promise to pay.
Globally liquid
Gold is priced and traded around the clock in every major financial centre, so investment-grade coins and bars from recognised refiners can be readily released when you need them.
Exceptional tax efficiency
Investment gold is exempt from VAT in the UK. Gold Britannias and Sovereigns are UK legal tender, so any gains on them are exempt from Capital Gains Tax. That can make a real difference to your returns after tax.
What would £20,000 in gold be worth today?
The value of £20,000 invested in gold 5, 10 and 20 years ago, to 30 September 2026.
5 years£48,074
140%
10 years£61,811
209%
20 years£196,183
881%
| £20,000 invested in... | 5 years | 10 years | 20 years |
|---|---|---|---|
| Gold | £48,074 | £61,811 | £196,183 |
| FTSE 100dividends reinvested* | £35,704 | £44,184 | £62,065 |
| UK residential propertyaverage price, UK HPI | £22,220 | £27,553 | £34,264 |
| Cash (uninvested) | £20,000 | £20,000 | £20,000 |
| What that £20,000 cash buys todayin starting-year money, after inflation | £15,655 | £14,081 | £11,212 |
Inflation quietly erodes cash. Over 20 years, £20,000 left in cash has lost almost half its buying power, while the buying power of gold has risen more than fivefold.
Periods run from 30 September 2021, 2016 and 2006 to 30 September 2026. Gold: spot price in GBP. FTSE 100: iShares Core FTSE 100 UCITS ETF (Acc). *20-year figure uses the distributing share class before September 2010, so excludes dividends for those four years. Property: HM Land Registry UK House Price Index, average UK price, September of start year to July 2026 (latest). Inflation: ONS CPI index (D7BT), September of start year to August 2026 (latest). Figures exclude dealing costs, premiums, storage and taxes. Past performance is not a reliable indicator of future results.