Standard Life in partnership with GoldMoney will allow self invested personal pension (SIPP) clients to invest directly in gold bullion, Financial Times reports. Standard Life’s SIPP clients will have online access to the physical bullion provider’s website at all times during the week.
Investors can buy and sell 2,000 grams of gold in one business day. GoldMoney will lock the price at which investors buy or sell, using the current spot rate, which is based on the trading prices from the London Bullion Market Association marker market prices, to determine the price.
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