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tax

Gold Tax Rules: How Bullion, ETFs & Mining Stocks Are Taxed (US/UK/EU/India)

Capital-gains, GST/VAT and inheritance rules for physical gold, gold ETFs, mining stocks and futures across the four largest gold markets.

8 min read · Last reviewed 6/23/2026

Gold Tax Rules

General information, not personal advice — verify with a local advisor.

United States

Physical bullion + physically-backed ETFs (GLD/IAU/SGOL): collectibles, max 28% long-term CGT. Mining stocks: standard 0/15/20%. Futures: 60/40 rule. IRA: no annual tax.

United Kingdom

UK legal-tender gold coins (Sovereign, Britannia) are CGT-exempt. Investment-grade bullion (≥995 fine) is VAT-exempt across UK & EU.

European Union

Investment-grade gold VAT-exempt (Directive 98/80/EC). Germany exempts physical gold held >1 year; France: 11.5% flat or 36.2% CGT (taxpayer choice).

India

Physical & digital gold: 3% GST on purchase, 12.5% long-term CGT (>24 months) post-July 2024. Sovereign Gold Bonds: capital-gains tax-free if held to maturity. Gold ETFs: debt-fund slab-rate.

Record-keeping

Keep dated invoices showing weight, fineness and price — your only proof of cost basis for physical gold.

Frequently asked

Are gold coins tax-free in the UK?
Yes — UK legal-tender gold coins (Sovereigns, Britannias) are CGT-exempt for UK residents.
US tax on gold ETFs?
Physically-backed gold ETFs are taxed as collectibles at a max long-term rate of 28%.