Actually, it is a bit more than just the ability to buy and sell Gold. Gold exposure available with Revolut Premium and Metals plans, and clients have options to:
- Buy and sell Gold like any other currency in Revolut
- Spend Gold with regular debit card purchases (in this case, Revolut converts Gold into appropriate currency first)
- Start getting cashback in Gold
- Set price targets for gold exchange at a specific price
Revolut is known for keeping its fees as low as possible. The same low fees approach is taken in providing an option to buy and sell Gold (ticker XAU at financial markets). Revolut uses actual Gold price plus a markup of 0.25% during trading hours and a 1% markup during out of market hours.
Revolut is going to expand its precious metals offering and likely will provide Silver and Platinum trading soon.
It sounds quite funny, but it’s true. Now you can send some gold to your friends! To friends who also have a Revolut account. Yes, Gold works like any other currency in the Revolut account.
What Gold means to the world?
Gold is used as an equivalent of modern money for thousands of years. Not so many things passed such a long time test! When there is turbulence on the financial markets or in the economy, Gold is still considered a safe haven for investors.
- Gold is a highly liquid financial instrument. It can be easily converted into any other currency
- Historically maintain its value in times of inflation
What to keep in mind buying and selling Gold?
No, it’s not possible if you were going to order physical gold delivery trough your Revolut account. Still, Revolut Gold balance is backed up by real, physical Gold that Revolut buys and holds with a secure financial institution.
Capital at risk
Gold prices can go up and down significantly in a short period. Buying and selling Gold is a financial risk.