Gold hits all-time high – is now the time to buy?

Gold surged to a historic high of over $5,000 per ounce as global and political uncertainty grows and the US Dollar (USD) weakens.

The value of gold has soared in recent weeks as concerns heighten around US President Donald Trump’s advances on Greenland and new trade policy proposals grow.

For the first time in history, gold soared past $5,300 per ounce on Wednesday (28 January). Silver also jumped to a new all-time high of over $100 per ounce.

Is now the time to buy gold?

Precious metals, such as gold and silver, are often considered “safe-haven” assets that investors buy during times of economic instability.

A weakened USD also makes gold more attractive to stronger currency-holders who might be able to buy it at a cheaper rate.

However, as with all investments, past performance isn’t a guarantee of future results.

While gold, historically, has provided some element of stability for investors – it’s vital that it forms part of a diversified portfolio of assets.

How do you invest in gold?

There are several ways to invest in gold.

You can buy a gold investment fund, trust or exchange-traded fund (ETF), which allows you to invest without physically owning the gold.

Gold investment assets can be bought through a Stocks and Shares ISA, which is an account that allows you to invest up to £20,000 per year tax-free.

Check out our pick of the Best Stocks and Shares ISAs to help you find a suitable account.

For new investors, we’ve also got a roundup of the Best Stocks and Shares ISAs for Beginners.

You can also invest in a gold fund through a self-invested personal pension (SIPP).

Alternatively, it’s possible to purchase gold bars and coins from reputable and secure dealers.