UK Precious Metal Prices Today

Q: Which precious metal is the best investment in the UK?

Each precious metal has different characteristics. Gold is VAT-exempt and certain coins are CGT-free, making it tax-efficient. Silver has strong industrial demand but carries 20% VAT. Platinum is rarer than gold but currently cheaper. The best choice depends on your investment goals, tax situation, and risk tolerance. This is not financial advice — consider consulting a qualified financial adviser.

Quick Answer

Today's precious metal prices in the UK: Gold £3,598/oz, Silver £53.62/oz, Platinum £1,483/oz, Palladium £1,244/oz. Only gold is VAT-exempt in the UK. Prices updated daily at 9am from LBMA market data.

Compare live gold, silver, platinum, and palladium prices side by side. All prices in GBP, updated daily from LBMA market data.

Prices as of 18 Feb 2026, 00:58 · Updated daily at 9am from LBMA market data

Precious Metal Prices Comparison

	Gold	Silver	Platinum	Palladium
Per Gram	£115.68	£1.72	£47.69	£40.00
Per Ounce	£3,598	£54	£1,483	£1,244
Per Kilo	£115,680	£1,720	£47,690	£40,000
UK VAT	VAT Exempt	20% VAT	20% VAT	20% VAT
CGT Status	Sovereign/Britannia exempt	Britannia coins exempt	Standard CGT applies	Standard CGT applies

Relative Price Per Gram (Gold = 100%)

Gold

100%

Silver

Platinum

41%

Palladium

35%

What is the gold to silver ratio?

ounces of silver

ounce of gold

How to read the ratio

• The ratio shows how many ounces of silver equal one ounce of gold in value
• A high ratio (above 80) may suggest silver is undervalued relative to gold
• A low ratio (below 60) may suggest silver is overvalued or gold is undervalued
• The historical average is approximately 60-80:1

Why investors watch the ratio

• Some investors swap between gold and silver based on the ratio
• A widening ratio may signal economic uncertainty (flight to gold)
• Industrial silver demand can narrow the ratio during economic growth
• The ratio can help time entry/exit points for precious metal trades

Platinum vs Gold: Platinum is currently trading at 41% of the gold price. Before 2015, platinum typically traded at a premium to gold.

Which precious metal should I invest in?

Gold — The Safe Haven

Gold is the most popular precious metal investment. It's VAT-exempt, certain coins are CGT-free, and it's the primary hedge against inflation and uncertainty.

View gold prices

Silver — The Industrial Metal

Silver benefits from growing industrial demand (solar panels, electronics) but carries 20% VAT in the UK. More volatile than gold with higher upside potential.

View silver prices

Platinum — The Rare Metal

30 times rarer than gold yet trading at a discount. Growing hydrogen economy demand but carries 20% VAT. A contrarian play for those who believe in reversion to historical pricing.

View platinum prices

Palladium — The Specialist Choice

Primarily driven by catalytic converter demand in petrol vehicles. Highly volatile with concentrated supply from Russia and South Africa. Carries 20% VAT.

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FCA Disclaimer: This information is for educational purposes only and does not constitute financial advice. The value of investments can go down as well as up. Consider seeking independent financial advice before investing in precious metals.

UK Precious Metals Tax Guide

•Investment gold: VAT-exempt in the UK
•Silver, platinum, palladium: 20% VAT on purchases
•Gold Sovereigns & Britannias: CGT-free
•Silver Britannias: CGT-free as UK legal tender
•All other metals: standard CGT rates apply

2026 Precious Metals Market

•Gold/silver ratio: 67:1
•Platinum at 41% of gold price
•Central banks purchased 1,200+ tonnes of gold in 2025
•Solar panel demand driving silver consumption higher
•Hydrogen fuel cells boosting platinum demand

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Summary: UK Precious Metal Prices

The four main precious metals traded in the UK are gold, silver, platinum, and palladium. Gold is the most valuable per gram at £115.68 and the most tax-efficient (VAT-exempt, CGT-free coins). Silver at £1.72/g and platinum at £47.69/g both carry 20% VAT. The gold/silver ratio is currently 67:1, while platinum trades at a historic discount to gold.

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Precious Metals FAQs

What are the current precious metal prices in the UK?

Current UK prices: Gold £115.68/g, Silver £1.72/g, Platinum £47.69/g, Palladium £40.00/g. Prices are updated daily from LBMA market data.

Which precious metal is the best investment in the UK?

Each metal has different characteristics. Gold is the most tax-efficient (VAT-exempt, certain coins CGT-free) and the primary safe-haven asset. Silver has strong industrial demand but carries 20% VAT. Platinum is rarer than gold but currently cheaper. The best choice depends on your investment goals, tax situation, and risk tolerance. This is not financial advice.

What is the gold to silver ratio?

The gold/silver ratio measures how many ounces of silver it takes to buy one ounce of gold. The current ratio is approximately 67:1, meaning you need 67 ounces of silver to buy one ounce of gold. The historical average is around 60-80:1. A higher ratio may suggest silver is undervalued relative to gold.

Is VAT charged on precious metals in the UK?

Investment gold is the only precious metal exempt from VAT in the UK. Silver, platinum, and palladium all attract 20% VAT on purchases. This makes gold significantly more tax-efficient for physical purchases. ETFs and allocated storage programmes abroad can help avoid VAT on non-gold metals.