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Tuesday, 31st January 2006 (4724 views)

Gold may still be given the go-ahead for inclusion in the personal pension pots of British savers, experts hope.

It was feared that Brits would not be allowed to put gold jewellery or event gold bullion securities into self-invested personal pension funds (Sipps) after the government backtracked on its earlier promises.

The government said that it would allow the inclusion of property and "exotic items" in Sipps from April 6th 2006, only to change its mind late last year.

But those with their ear to the ground are optimistic that gold could be the exception to the rule even though the government is yet to announce a formal decision either way.

"No decision has yet been taken on whether to allow gold to be held within Sipps. Our feeling is that gold jewellery and the like won't be allowed, but that properly stored gold bullion will be," Tom McPhail, an adviser at Hargreaves Lansdown, told The Times.

"However, until the government makes an announcement on this, we won't be accepting physical gold of any kind into the Sipps we manage."

With London research group GFMS recently forecasting that gold prices could rocket from $559 to $850 an ounce in the next 18 months, it is understandable why the yellow metal is currently seen as a good investment option.

 

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