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New Account - Physical Gold & Silver

Posted by on 3 October 2012


We have been asked by a number of you to see if we can locate a physical precious metals product, to enable you to add physical gold or silver to your portfolio, alongside the gold and silver CFD account we currently provide.

It is with great pleasure that I am able to announce that through one of our counterparties we have been able to do this.

Prior to offering this facility to our clients we wanted to do some due diligence to ensure it was competitive and answered a lot of the questions posed to us when asked to locate such a product.  Precise details are set out in the account terms and conditions available to you on enquiry.

Please find responses to some of your questions below:

Q: Can I take delivery of the gold or silver if I want to?

A: Yes, we can purchase gold and silver for delivery through this account.

Q: What is the min transaction size?

A: US$10,000

Q: How competitive is the pricing?

A: Through what is publicly available we have determined that the buy/sell spreads are tighter than mints throughout Australasia, but not as tight as the CFD product.

Q: Is my gold/silver stored outside the banking system?

A: Yes, the bullion is stored at non-bank vaults, and can be bought and stored in a non US location.

Q: Is the bullion held against my own name?

A: You have a direct beneficial interest in the gold.  For purchases over US$1m, the gold is held directly in your name, under this amount it is held on your behalf by our counterparty at their account at the vault.

Q: Is my holding pooled with others?

A: No, the holding is allocated, not pooled.

Q: Are there any ongoing fees and what do they include?

A: Yes, there is a 0.95% annual fee charged monthly. This covers Storage, Transport, Insurance and a quarterly audit fee.

These were some of the key questions you asked. This link profiles the product in more detail - Click Here . 

If you wish to open a Portfolio account with us to buy and sell precious metals, or would like a copy of the account terms, please contact us on 0800 874 266.

We thank you for your ongoing business, and will keep looking for new product to provide to our advisory clients.



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