Prices as of 4 Apr 2026, 08:18 · Updated daily at 9am from LBMA market data
Precious Metal Prices Comparison
| Gold | Silver | Platinum | Palladium | |
|---|---|---|---|---|
| Per Gram | £113.68 | £1.78 | £47.89 | £36.53 |
| Per Ounce | £3,536 | £55 | £1,490 | £1,136 |
| Per Kilo | £113,680 | £1,780 | £47,890 | £36,530 |
| 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%)
What is the gold to silver ratio?
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 42% of the gold price. Before 2015, platinum typically traded at a premium to gold.
Which precious metal should I invest in?
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 pricesSilver 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 prices30 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 pricesPrimarily driven by catalytic converter demand in petrol vehicles. Highly volatile with concentrated supply from Russia and South Africa. Carries 20% VAT.
Dedicated page coming soonFCA 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: 64:1
- •Platinum at 42% 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
Summary: UK Precious Metal Prices
Precious Metals FAQs
What are the current precious metal prices in the UK?
Current UK prices: Gold £113.68/g, Silver £1.78/g, Platinum £47.89/g, Palladium £36.53/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 64:1, meaning you need 64 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.
About the Author
Founder & Market Researcher
Taro has been actively investing in precious metals and financial markets for over 15 years. Frustrated by the lack of transparent, accurate gold pricing information in the UK, he built London Gold Exchange as a data-driven resource for fellow investors. The site combines real-time market data, verified dealer information from 242+ UK businesses, and insights drawn from years of hands-on experience in the gold market.
- ✓15+ years investing in precious metals & equities
- ✓Built verified database of 242+ UK gold dealers
- ✓Daily market data analysis and price tracking
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