Precious metals are listed on commodities markets across the world. Precious metals such as gold (Au), silver (Ag), platinum (Pt) and palladium (Pd) can be bought and sold on the stock market. The values are set by the stock market on the basis of supply and demand.
RAIFFEISEN sells precious metals in the form of coins or ingots at the rate of the transaction date.
The main currencies
The main stock markets in the world quote precious metal prices per troy ounce* (symbol oz t), 1 kg-ingot or gram.
- France: Napoléon
- United States: American Eagle
- Canada: Maple leaves
- Australia: Nuggets
- South Africa: Krügerrands
- United Kingdom: Britannia
- Switzerland: Vreneli
- Isle of Man: Noble (liable for VAT)
- Gold: Gold ingots** of 1 kg, 500 g, 250 g, 100 g, 50 g, 20 g, 10 g and 5 g
- Silver: Silver ingot*** of 1,000 g (liable for VAT)
- Platinum and palladium: Ingot of 1,000 g (liable for VAT)
* A troy ounce (oz t) weights 31,10034768 grams or 0.0311034768 kg
** Standard gold ingots 999.9
*** Standard silver ingots 999
Value added tax
In Luxembourg, the ‘physical’ sale or purchase of gold coins or ingots is not subject to value added tax.
However, the physical sale or purchase of platinum, palladium and/or silver coins or ingots is liable for VAT (current rate 17 %).
You can deposit your precious metals with Banque Raiffeisen, which guarantees to:
- Keep your precious metals in a safe place
- Track listed prices daily using the fixing price
- Send a quarterly securities deposit statement