Internet investment Gold
‘Internet Investment Gold’ refers to vaulted gold that is purchased online and stored professionally on behalf of investors. It allows investors to buy physical gold online and have it stored on their behalf. This business has grown significantly over the last decade and new players are continuing to emerge, with the largest providers now holding billions of US dollars’ worth of gold on behalf of investors.
Guidance of World Gold Council
The World Gold Council works with governments, international agencies and policymakers to help reduce barriers and improve access to gold. It develops globally recognised standards in seeking to create clarity and consistency where they are lacking and reinforce trust across the gold value chain, bolstering gold’s acceptance as a mainstream asset and broadening its investor appeal.
As with any product group, it is important that investors fully understand what they are investing in and what they identify as the right solution before taking any decisions. Equally, it is important that product providers follow sound practices to ensure a positive client experience. The World Gold Council has therefore developed two sets of guidelines, known as the Product Provider Guidance and the Investor Guidance, to achieve this.
Product Provider Guidance
The Product Provider Guidance defines sound practices for providers of Internet Investment Gold products through laying out a blueprint of recommended best practice. It outlines practices that are meant to protect investors by defining various minimum requirements. These sound practices cover activities from marketing and pricing to risk management and storage. They are intended to further professionalise the sector by encouraging providers to meet the defined requirements and thereby furthering the market.
The Investor Guidance aims to help investors understand how to invest in gold online, differentiate between providers and assess which products best meet their needs. It helps investors to assess and choose between different offerings. It also includes a checklist with key questions. The Investor Guidance addresses questions like how customers can assess the trustworthiness of providers, judge the quality of products and processes, address costs or the independent audit of gold holdings.
Benefits of investing in internet investment gold
Gold is a unique asset that is highly valued around the world. Its investment characteristics are numerous. It acts as an effective diversifier in a portfolio. It protects funds against the wealth eroding effects of inflation and currency depreciation. It is a highly liquid asset with no credit or counterparty risk. Internet Investment Gold provides investors with a means to legally own physical investment gold, and at the same time to have it kept safely in professional vaults. Investors typically have the right to withdraw their holdings, but by leaving it in the vaults they benefit from an efficiency and convenience which is similar to that of other modern investment products.
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