Gyroscopic Investing

Hello

I wanted to get the physical gold ETF PHAU and hold it in an ISA in the UK. But the ISA provider won't buy it for me because they say it is classed as complex and they can't buy it for me without giving advice, which they don't provide. Does anyone know of any good alternatives that I could hold in an ISA in the UK?

I'm guessing that some brokers are shy of dealing in Exchange Traded Commodities as a category of products because some of them are a little bit opaque in how they achieve their objectives, that is to say might go bang. I don't think that it should apply to the physical gold backed ETCs. 

As an alternative you could try these, they are all ETCs as well (and cheaper than PHAU) on the off chance that your broker is not applying blanket ETC rules. 

iShares Physical Gold ETC (SGLN) OCF 0.25%
Source Physical Gold ETC (SGLD) OCF 0.29%
db Physical Gold ETC (XGLD) OCF 0.29%

Or you could transfer your ISA to a another broker. I've bought without issue from XO, III, Alliance trust and TD Direct in the past.

Or you could use your ISA for Stocks and Bonds and hold physical gold in the form of Sovereigns or Britannia coins which as legal tender are exempt from CGT in any case.


 

I've also got an XO ISA with phau and sgln.

XO seems very user friendly for a UK HBPP ISA.

I use tr68 3 1/2% 2068 for the bonds by the way and XO is fine for that too.