WisdomTree Physical Gold (PHAU) (PHGP · LSE)
Bullion in a Vault, Bought Like a Share
A London-listed product that gives you a direct claim on physical gold bars stored in a bank vault, bought and sold as easily as a share.
Bull case for WisdomTree Physical Gold (PHAU)
Hedge against weakening paper currencies
Gold holds its value when currencies lose purchasing power, protecting savings over long periods.
Central bank demand supports gold
Central banks buying bullion for their reserves adds steady long-run demand for the metal.
Backed by numbered bars in a vault
Each security is secured on specific, audited gold bars held by a named custodian bank.
Bear case for WisdomTree Physical Gold (PHAU)
Value rises and falls with gold alone
There is no income and no diversification, so a falling gold price means direct losses.
Market price can drift from bullion value
Exchange prices depend on buyers, sellers and market makers, not just the metal price.
Custody and unallocated metal risk
Bars could be lost or stolen, and small unallocated balances create claims on the custodian.