In a recent FT Adviser article, The Pure Gold Company reported a significant rise in gold purchases, driven by investor concerns over potential capital gains tax increases.
As the new government considers tax reforms, many investors are seeking to protect their assets from possible tax hikes.
Josh Saul, CEO of the Pure Gold Company, said: “We’ve seen a 67 per cent increase in investors selling assets such as art, cars and houses in the last six weeks in order to fund their gold and silver purchases, with many saying they have been motivated by the possibility of a potential increase in CGT.
“Labour has committed to not raising taxes on national insurance, VAT or income tax, but other taxes, including CGT, could be changed.”
“The decisive Labour victory provides stability for the UK political and economic outlook, and the pound has already strengthened a little in the aftermath, which makes dollar-denominated gold cheaper.”
Gold, known for its stability and tax advantages, has become an attractive option. The article emphasizes that this trend reflects a broader desire among investors to safeguard their wealth amidst fiscal uncertainty. The growing interest in gold highlights its role as a safe-haven asset during times of potential economic change.
For more details, read the full article on FT Adviser here.
