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What's the best way to buy gold in South Africa? Here are your top two options

by , 26 May 2014

If you want to invest in physical gold, you have a number of options open to you. Here are two great ways you can easily invest in the yellow metal. So what are these options to buy gold? Let's take a closer look…

Buying gold option #1: Kruger rands

One of the easiest ways to buy gold is to buy Kruger rands. You can do this through a variety of dealers in South Africa. It’s very simple to buy these coins. And to keep them, the research team at the Resource and Scarcity Report explains.

You have two options when it comes to Kruger rands. You can either buy the ‘normal’ variety or a special edition piece.

The ‘normal’ Kruger rand’s value is linked to the gold price. With special edition coins, the supply and demand of the particular coin also has a bearing on price. Getting your hands of a rare, sought after edition could prove very lucrative.

Unlike when you sell ‘normal’ Kruger rands, once you sell a special edition one, you don’t have to pay capital gains tax.

You can easily store Kruger rands in a safe place in your home or in a bank’s safety deposit box.

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Buying gold option #2: A gold-backed ETF

In 2004, Absa launched its highly successful New Gold exchange traded fund [JSE:GLD]. This ETF allows you to own physical gold, without having to worry about holding it yourself.

If you want to own gold this way, you’ll have to open an account with a stockbroker if you don’t have one already. You can buy and sell these ETFs any time the market is open.

So there you have it, the best way to buy gold in South Africa.

What's the best way to buy gold in South Africa? Here are your top two options
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