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Gold Account

Buy and sell gold online without the hassle of finding a broker or having to physically store the gold.

 

Product Features

  • Buy and sell gold from wherever you are
  • Enjoy 24/7 access to your gold account online
  • Gold is held electronically, eliminating the need for physical storage
  • Trade in gold directly, without the need for a broker
  • Convert gold to cash and back whenever you need liquidity

Frequently Asked Questions:

How does the NBF Gold Account work?

Like any other foreign currency account, the gold account works with the currency code XAU and is denominated in ounces.

How will I store any gold purchased?

As the gold is held electronically, you won’t have to deal with the risks of storing and moving physical gold.

How can I buy gold using the NBF Gold Account?

You will give NBF an instruction to purchase gold in the number of troy ounces you would like to invest in. NBF will purchase the gold on your behalf at the prevailing rate.

Will I be issued with a cheque book and/or ATM card for this account?

No, ATM cards and cheque books are not issued.

Who holds the risk associated with any gold investment I make?

The quantity of gold purchased by the customer remains constant and any risk associated with an increase or decrease in the price of gold is held with you, the customer.

How do I liquidate my NBF Gold Account?

You can liquidate your account by giving an instruction to NBF to sell your gold investment at the prevailing rate and to transfer the funds from that sale to your customer account.

Can I redeem actual gold that I have purchased?

No, no option for physical gold redemption exists.

Does this account generate interest?

No, as earnings are dependent on the gold price, interest is not paid in this account. If you would like to earn interest on your gold investments, consider the NBF Gold Deposit Account.

Can I withdraw or deposit cash from this account?

No, you will not be able to deposit cash into the gold account or withdraw cash from it.

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