UK Investors Boost Gold Purchases Ahead of November Budget Announcement

As the UK gears up for the Budget reveal on November 26th, the demand for tax-efficient gold has witnessed a significant uptick, according to insights from Solomon Global. This precious metal is increasingly being seen as a safe haven for investors looking to protect their assets amid the current economic uncertainties.

In a recent report, Solomon Global indicated that sales of physical gold bullion have more than doubled year-on-year, with a staggering 122% increase in sales reported for October 2025 alone compared to October of the previous year. September also showcased a robust surge, with sales up by 85% year-on-year. This remarkable growth highlights the shifting investment strategies as individuals seek out precious metal assets that are exempt from Capital Gains Tax (CGT).

A survey conducted with over 10,000 visitors to the Solomon Global website revealed that nearly 46% of respondents cite gold's tax-free status as their primary motivation for investing in this asset. This interest has noticeably increased from 41.89% earlier in the year and 37.51% in the latter half of 2024, indicating a strong trend toward excavating tax-efficient investment opportunities.

The motivation behind this shift comes in the wake of last year's Budget, where changes in CGT rates raised the lower main CGT rate from 10% to 18% and increased the higher main rate from 20% to 24%. As speculation swirls regarding potential changes in the CGT framework, the upcoming budget may further influence investment decisions, thus reinforcing gold's appeal as a secure and tax-efficient asset.

The UK market is particularly favorable for gold investments, as bullion coins produced by The Royal Mint, such as gold, silver, and platinum, are exempt from CGT. Furthermore, there is no limit on the profits that can be accessed tax-free from these coins, and investment gold is also exempt from VAT. The dual benefit of appreciating value and tax exemptions makes gold an attractive option for investors looking for security amidst economic challenges.

Solomon Global has also reported that despite a 57% increase in gold prices since the start of the year—with forecasts suggesting prices could exceed $5,000 per ounce by late 2026—only about 25.8% of respondents noted annual growth as their primary motivation for exploring gold. Instead, many are pivoting towards wealth protection and the allure of tax efficiency in a climate where financial stability is increasingly essential.

According to Paul Williams, managing director of Solomon Global, this demand surge is primarily fueled by uncertainty surrounding budgetary decisions. As concerns mount over potential tax hikes or changes to inheritance tax rules, investors view gold as a resilient option, adept at offering refuge during times of economic upheaval.
“Uncertainty and fear abound ahead of the Budget with many concerned about what is in Reeves' sights as she scrambles to plug the budget black hole,” stated Williams. “Gold continues to be an appealing option for investors looking for stability in these unpredictable times.”

About Solomon Global

Solomon Global specializes in securely delivering physical gold bars and coins for personal ownership and prides itself on a consultative approach tailored to all types of investors. Established as a premier gold bullion supplier in the UK, the company was honored as the 'Most Trusted UK Gold Bullion Supplier 2024' at The London Investor Show Awards and has received accolades for providing exceptional service. Their consulting team is well-versed in the practical solutions and tax advantages associated with gold investments and is readily available to assist clients in navigating the intricacies of buying and selling gold and silver. For more information about purchasing gold or silver, contact Solomon Global today.

Conclusion

As the Budget approaches, the landscape for investing in gold continues to evolve. With tax-free status serving as a key driver for demand, it appears that strategic shifts towards gold investment are set to shape the market in the coming months. Investors are well-advised to stay informed as the implications of government financial policies unfold.