The Pure Gold Company reports a sharp rise in precious metals demand as investors look to protect their wealth from tax changes, inflation and concerns about access to online financial systems

• Purchases of gold and silver have risen 210% in the past two weeks – gold up 253% and silver 167% - compared with the company's average weekly level, exceeding increases ahead of previous Budgets

• Gold prices have risen 87% in three years, potentially leaving investors with significant gains and a tax bill when they sell

• Enquiries about holding physical gold amid concerns over cyber attacks and supply-chain disruption are up 25% in the past week

• Qualifying UK legal tender gold coins, including Sovereigns and Britannias, are exempt from Capital Gains Tax (CGT), however large the gain

• A £50,000 investment that rises by 40% could trigger a £4,080 CGT bill if held as bars or an ETF outside an ISA, compared with £0 on qualifying coins

• With the annual CGT allowance now just £3,000, qualifying coins may appeal to investors who have already used their £20,000 ISA allowance

Gold purchases have surged 210% in the run-up to the Budget, as investors look to protect their wealth against potential tax changes, inflation and growing concerns about financial security, according to The Pure Gold Company (https://thepuregoldcompany.co.uk).

Gold purchases have risen from a normal level of 260 a week to 918, an increase of 253%, while silver purchases have climbed from 140 to 374, up 167%. The increase is the largest recorded ahead of the five Budgets for which the company has provided comparable figures. Purchases rose by 120% in November 2025, 178% in October 2024, 159% in November 2023 and 136% in November 2022, compared with the company's average weekly level.

The company has also recorded a 25% increase in enquiries over the past week from people concerned about cyber attacks, supply-chain disruption and the potential impact of wider emergencies on their access to money.

Some investors are increasingly interested in holding physical gold at home as a way of maintaining access to part of their wealth if online banking or financial systems become unavailable. Meanwhile, wealthier investors are looking at qualifying UK legal tender gold coins as a potential hedge against inflation, with the additional attraction of CGT-free gains.

With gold prices having risen 87% over the past three years*, investors sitting on significant gains could face an unexpected tax bill if they have not considered how their gold is held.

How the tax bill can differ

For a higher-rate taxpayer who invests £50,000 in gold and sees its value rise by 40%, the gain would be £20,000.

Gold bars held outside an ISA: after deducting the £3,000 annual CGT allowance, £17,000 would be taxable at 24%, resulting in a £4,080 CGT bill, assuming the gain falls entirely within that rate.

Qualifying Sovereigns or Britannias: £0 CGT.

Joshua Saul, CEO of The Pure Gold Company, said: “Investors focus on the price of gold, but how they hold it can make a big difference to what they keep.

“Qualifying UK legal tender coins such as Sovereigns and Britannias are exempt from CGT, however large the gain. You also don't need to buy a large bar to get started. A Sovereign weighs less than a quarter of an ounce, so investors can build up a holding gradually. Physical gold can also offer diversification and a tangible asset held outside the traditional financial system.

“We're also seeing more people asking about physical gold because they're concerned about what would happen if a cyber attack or disruption to financial services left them unable to access their money online. For some, holding gold at home offers a sense of security because it is a tangible asset they can physically access. However, people need to weigh that against the risks of theft, loss and the practicalities of storing it securely.”

“But tax shouldn't be the only consideration. Compare the price you pay with the dealer's buy-back price - the difference is a real cost - and check their buy-back policy. If you're storing gold away from home, factor in storage and insurance, too.

“Gold pays no income and its price can fall, so it's not a guaranteed return. It should be considered for diversification, not as a one-way bet. Silver has different costs. Qualifying UK legal tender silver coins can be exempt from CGT, but silver bullion generally carries 20% VAT, which changes the maths.

“With economic and geopolitical uncertainty continuing, some investors are looking to gold as a safe haven and a way to diversify. For others, the appeal is owning a tangible asset outside the traditional financial system. But it's important to understand the tax treatment, costs and risks before investing.”

Ends

Notes to editors

* https://thepuregoldcompany.co.uk/gold-price-gbp

Gold price in GBP £/0z. £1627.94 22 Oct 2023 to £3046.97 22 October 2026 – Change £1419.03 / 87.17%

For more information contact

Rachel Mason, PR Prose, prprose@live.co.uk / rachelmason@prprose.co.uk 07759 147131

About The Pure Gold Company

The Pure Gold Company offers a curated investment service which means they will discuss clients’ needs to ensure they can make educated buying decisions. Through this direct communication, they understand who is buying and why (compared with online gold sellers who don’t have the same depth of insight).

Because The Pure Gold Company's sales to retail investors are guided by their consultative approach rather than just purely online, CEO Josh Saul gleans the underlying motives of his clients, and can speak around trends in retail investment in physical gold - with geopolitical tensions, economic and banking worries, currency concerns, and the expectations for the gold price all featuring prominently.

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