Gold Blog

World Gold Council publishes guidance on Internet Investment Gold

April 05, 2019

The term ‘Internet Investment Gold’ refers to vaulted gold, which is purchased online and which is stored professionally on behalf of investors. The Product Provider Guidance outlines practices which aim to protect investors by defining various minimum requirements and best practices. The Investor Guidance helps investors to assess and choose between different offerings and includes a checklist with key questions.

Vaulted gold – or Internet Investment Gold – offered through the Internet has first appeared around the beginning of the millenium. Early pioneers included companies like Goldmoney and BullionVault. Gold holdings have grown significantly over the years. Today, there are several large providers which each hold more than 1 billion US dollars in gold on behalf of their customers.

Due to the lack of regulation of the sector, Trustable Gold started in 2011 to compare offerings of vaulted gold in terms of key security aspects and prices.

The Product Provider Guidance for Internet Investment Gold, which was published this week by the World Gold Council now establishes various so-called sound practices for companies offering vaulted gold. 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.

Towards the end of 2018, the World Gold Council already published an Investor Guidance for Internet Investment Gold. While the new Product Provider Guidance aims to support companies offering Internet Investment Gold, the Investor Guidance is primarily targeted at customers interested in investing in vaulted gold. The Investor Guidance addresses questions like how customers can assess the trustworthiness of providers or judge the quality of products and processes. The key questions are also summarised in an Investor Checklist. Sample questions considered are addressing costs or the independent audit of gold holdings.

We believe that the initiative by the World Gold Council can substantially benefit investors and product providers and will hopefully result in further improved offerings in the longer term.

Trustable Gold helps investors in assessing key aspects’ of providers vaulted gold offerings. Our safety criteria address key points of the World Gold Council’s guidance. In addition to pointing out key safety aspects, we also compare the costs of various vaulted gold offerings with our comparison engine.

More information on the World Gold Council’s initiative on Internet Investment Gold

Trustable Gold’s comparison table of vaulted gold offerings

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