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An unallocated bullion account is a bank account opened not in a currency but in a bullion. As a rule, unallocated bullion accounts (UBAs) are opened in gold, silver, platinum or palladium, and display the amount of bullions belonging to the account holder in grams without individual signs – samples, forms,  number of bullions, etc. At the same time, when opening an UBA account, the investor does not buy bullions physically, but merely transfers an amount equivalent to the value of the desired amount of metal on the bank’s fixed rate. Accordingly, when the client closes the account, the bank pays the cash equivalent value of the metal belonging to him on the current exchange rate on the closing day.

Just as traditional deposits, the UBAs can be fixed-termed or opened on demand.


Revenues from unallocated bullion accounts

Investment income of the UBA holder consists of two components:

  • income from the potential metal value growth;
  • interest on investments in bullions (in case of time deposit accounts).

Thus, on the one hand, the unallocated bullion account resembles the standard currency bank deposit – the investor receives interest on invested funds (assets). On the other hand, the UBA is a kind of surrogate for simplified stock trading: if at the time of closing of the account the bullion value has increased, the investor receives not only the initial investment, but also the difference in price of the bullion on opening and closing dates as profit.


Unallocated bullion account is a good option for

  • those who want to protect their savings from theft and rapid changes in exchange rates
  • those who cannot or do not want to monitor the value of currencies and bullions on the world markets and proactively manage their money
  • investors who put the priority on reliability of investments, rather than on investment income


Advantages of unallocated bullion accounts

  1. Unallocated bullion accounts minimize currency risks.
  2. The bank “buys» the bullion from the account holder upon request or at the expiration of the UBA, regardless of the actual liquidity in the metal market.
  3. There is a hypothetical possibility to receive two types of income simultaneously.
  4. Metals are traditionally believed to be reliable assets – so-called shelters in an unstable economic period – in contrast to the falling exchange rates and energy prices, the cost of metals usually grows.


Disadvantages of unallocated bullion accounts

  1. An UBA offers very low returns compared to other investment instruments.
  2. The investor deals not with the real cost of metals on the global financial market, but with clearly less favorable bank rates.
  3. In case of fixed-time UBAs, the investor makes a profit from the difference in the value of the metal on the day of opening and closing of accounts only by chance – there is no opportunity to select the ideal moment and the rate for sales of bank gold, silver, platinum or palladium.
  4. In case of on-demand UBAs, the depositor has an opportunity to select the account closing date, but he loses interests.
  5. Unlike bank deposits, unallocated bullion accounts are not participating in the deposit insurance program in most countries, practicing a form of investment protection of individuals.

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