Gold and precious metals
Gold is the most widely held alternative asset among UK retail investors and the most accessible. It has historically acted as a store of value during periods of economic stress, currency weakness, and inflation, and tends to be negatively correlated with the US dollar.
Gold reached a record high above $3,500 per troy ounce in April 2025, driven by central bank buying, US dollar weakness, geopolitical uncertainty, and strong demand from Asian investors. As of June 2026, prices have moderated but remain significantly elevated relative to five-year averages.
For UK investors, the most practical routes to gold exposure are gold ETFs — such as the iShares Physical Gold ETC (SGLN) or the Invesco Physical Gold ETC (SGLD), both London-listed and ISA-eligible — or spread bets and CFDs on spot gold prices, which are available through our platform with no stamp duty and, for spread bets, free from CGT.
Silver, platinum, and palladium offer similar inflation-hedging and store-of-value characteristics, with higher volatility and more industrial demand drivers than gold. All are available to trade with us.
