SIPP investors turning to gold

SIPP investors are showing a marked increase in gold bullion as a way to hedge against the recession, according to The IPS Partnership.

The SIPP provider has seen major interest in gold investments from its customers, but says awareness needs to be raised on how to use the asset within self-invested pensions.

Numbers of investors putting gold in their SIPP increased by around 100% between January and February this year, The IPS Partnership says.

Business development director, Richard Mattison, says IFAs are increasingly looking to hard assets to help their clients shield themselves from volatile equity markets.

"HMRC first allowed gold investments to be placed in a SIPP in 2006, but recent market scares have led to a revival of interest in this traditional safe-haven," he says.

"Many investors are still unaware they can put gold in their SIPP but it is actually very simple to do, and much of the transaction can be completed online."

Bullion can be applied for online and placed in a SIPP after initial ID checks, with the physical bullion usually kept in a storage facility for a fee.