You can buy or sell real physical gold in a few simple steps within the Hugo App:
- Navigate to the Gold Vault by clicking the Gold Vault icon in the footer menu
- Click the "Trade Gold" button
- Select either "Buy Gold" or "Sell Gold" from the top of the Trade Gold screen
- Enter the amount you wish to buy or sell (the live price will show you the cost per unit weight)
- Click "Next"
- Review the "Preview" screen - you get a few seconds to confirm the trade before the quote expires
- Your trade is now executed!
Bear in mind that as we trade real Physical Gold with the live market, you can only trade during market open hours. Market trading hours are as outlined below:
- Mon closed between UK time 10pm & 11pm
- Tues closed between UK time 10pm & 11pm
- Weds closed between UK time 10pm & 11pm
- Thurs closed between UK time 10pm & 11pm
- Fri closed after UK time 10pm
- Sat closed
- Sunday open from UK time 11pm
- Certain Bank Holidays operate Sunday trading hours
If you are out of hours the preview screen will state Market Unavailable.
Gold buys are settled instantly in your gold vault with cash debited from your Spend Account. As you can only buy gold with funds available in your Spend Account, Hugo will use those funds to execute the buy and guarantee the quoted price.
For sales, gold gets sold instantly to the market and the cash from sale gets received from the market in two business days on a T+2 market settlement. The proceeds get deposited into your Spend Account. We will always make the settlement date clear and the transaction status will change from "Pending Settlement" to "Settled", once complete.
This is how you know you are trading real physical gold!