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Do banks sell gold?

Big banks will sell certificates of ‘unallocated gold’ to large investors o...

14 April 2021

Martin Cozens

Big banks will sell certificates of ‘unallocated gold’ to large investors or funds so that they have portfolio exposure to gold. However, for the average person it is not possible to walk into your local branch and buy a bar of gold.

Central banks and commercial banks also sell gold to each other as well as the storage facilities for holding gold.

If you are hoping to buy gold there are numerous ways you can do so. The easiest way to buy gold is via a smartphone app. The Glint app allows you to buy and save gold as well as spend in via Mastercard anywhere in the world. The app is FCA regulated and uses Tier 1 banking accounts to keep your gold safe. Purchase of gold is instant, and the gold is legally owned by you, stored in a vault in Switzerland and will be redeemable.

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