Women are buying record amounts of gold and silver as prices rise

More women than ever are buying gold and silver, the Royal Mint says, as gold prices reach record highs.

The Royal Mint has recorded an increase in the share of women investing in precious metals.

Women investors now make up more than a quarter (26 percent) of Royal Mint customers, up from one in twelve (8 percent) in 2018.

Gold prices have soared to a series of record highs this week and currently stand at £2,120 ($2,752) per ounce.

Gold is up more than 30 percent this year, while silver is up 43 percent.

A survey by the Royal Mint shows that 27 percent of women want to invest money in investments over the next 12 months, while 16 percent say they are considering buying gold.

Nicola Howell, Chief Commercial Officer at the Royal Mint, said: ‘This study clearly shows the impact of investment risk and knowledge on women’s investment participation.

‘While progress has undoubtedly been made in recent years and more women are expected to invest in the coming year, there is still a long way to go before a level playing field is achieved.

“We want more women to feel empowered when making investment choices, whether that’s in precious metals or other assets.”

More than 3,000 people were interviewed for the study.

Earlier this week, the Royal Mint said Brits are buying gold coins instead of gold bars as customers look to avoid rumored capital gains tax hikes.

That is likely to be driven by concerns that the Chancellor will increase capital gains tax on investment gains to 39 percent in the October 30 budget, up from 10 to 20 percent now, depending on your tax bracket.

Experts expect the gold price to continue to rise in the coming months.

How to invest in gold

There are a few ways you can get exposure to the precious metal.

One way is to buy physical bars or coins.

These can be kept at home (ideally with adequate security and insurance cover) or kept in a secure safe, such as that of the Royal Mint, for a fee.

Certain gold coin products issued by the Royal Mint have legal tender status and are therefore exempt from CGT and VAT.

You can also invest in gold through exchange traded commodities (ETCs). Tracking the price of gold in this way is no different from holding a passive investment in a stock index.

These are exchange-listed funds that offer investors exposure to the gold price, backed by physical investments in gold bars held in secure vaults.

You can hold ETCs in a Sipp or Isa to protect gains from tax. Investors should be wary of ETFs that gain exposure through derivatives rather than physically holding the precious metal, as these are complex and may incur costs that are not immediately apparent.

Another way investors can gain exposure to gold is through multi-asset funds.