{"id":30270083,"date":"2026-02-27T10:59:00","date_gmt":"2026-02-27T09:59:00","guid":{"rendered":"https:\/\/www.fma.gv.at\/?p=30270083"},"modified":"2026-03-02T18:38:03","modified_gmt":"2026-03-02T17:38:03","slug":"fma-urges-caution-on-gold-following-price-rally-and-volatility","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/fma-urges-caution-on-gold-following-price-rally-and-volatility\/","title":{"rendered":"FMA urges caution on gold following price rally and volatility"},"content":{"rendered":"

Gold<\/strong> represents a “safe haven<\/strong>” in times of crisis and periods of political uncertainty. This image has driven the precious metal’s price to an all-time high in recent times. Following significant ups and downs in the opening weeks of 2026, there is still widespread interest <\/strong> in buying and selling of gold bars and coins like the well-known Wiener Philharmoniker, and in gold as an investment vehicle and store of value.<\/p>

Trading in gold itself is not subject to supervision by the Austrian Financial Market Authority (FMA). Consumer enquiries and submissions to the FMA have shown that rising interest in gold has also motivated questionable providers<\/strong>. The FMA advises consumers to be cautious and to be sceptical of extraordinary discounts, delivery times and opaque business models, that are contrary to the wish for a secure investment.<\/p>

Adding gold to the investment mix may generally make sense, althought there are specific risks and costs to consider. When buying gold, use serious and reliable suppliers. If investing in physical gold, you should also consider security aspects as well as costs of insurance and storage. As gold does not produce any recurring returns, such as interest or dividends, the costs associated with purchasing it, storing it on an ongoing basis and also transaction fees can affect returns substantially.<\/p>

Money laundering aspects of gold trading<\/h2>

Gold belongs to the person who physically possesses it and is an anonymous, highly concentrated, easily transportable store of value enjoying global acceptance, making it suited for money laundering – like cash. Banks and gold dealers are therefore required to observe certain due diligence requirements when buying and selling gold<\/strong>, to prevent abuse.<\/p>

The latest edition of the FMA’s information series “Let’s talk about money” (Reden wir über Geld) informs consumers about the most important aspects regarding prevention of money laundering. This primarily includes proof of identity<\/strong> when buying and selling gold, as well as proof regarding the origin of funds<\/strong>. These rules apply as a rule from a transaction amount of €10,000 (for gold dealers) or €15,000 (for financial institutions). They also do not imply that there is a general suspicion, but simply are intended, like passport control or security scans at the airport, to make life harder for criminals.<\/p>

From the customer’s perspective it is important to remember: banks and gold dealers are required to obtain a clear picture about how large the risk of money laundering is<\/strong>. Such an estimation is naturally clearly, if they already know the customer, their assets and income situation and their transaction history, as is the case at the customer’s main bank. Questions are usually asked if the amounts are unusually high, or they do not know about their circumstances.<\/p>

Supporting documents like receipts from purchasing gold are the simplest means of proof. If the bars or coins were a present or were bequeathed, or bought a long time ago, then it is also possible to present the origin of funds as being plausible in other ways, such as by means of photos, cards accompanying the present, documents about the bequest, receipts for the purchasing of a safe, about increasing the household insurance coverage or renting a security deposit box.<\/p>

The new edition of “Let’s talk about money” can be found here<\/a>. Further information about gold:<\/p>