How To Buy Gold In Italy

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Investors in Italy can buy gold using the following methods:

Gold dealers. Certified, offer unique designs, but charge higher premiums. Investment gold (bars/coins) is VAT-free.
Banks. Secure and reliable, but costly, with limited selection. Require documentation and bank accounts.
Jewelry shops. High craftsmanship, stamped for authenticity, but luxury brands inflate prices. Tourist areas overcharge.
Digital gold from brokers. No storage worries, easy trading, but some funds don’t grant actual gold ownership. Watch for hidden fees.

Gold has always been valuable, not just as a luxury but as a way to protect wealth. In Italy, buying gold isn’t just about picking up jewelry or coins — it’s about knowing where to get the best deals, how to avoid unnecessary taxes, and which types of gold hold their value over time. Whether you're interested in physical gold or digital alternatives, understanding how the market works can help you avoid overpaying or making risky choices.

Italy has a strong gold market, but not every seller offers the same quality or pricing. Some gold dealers specialize in investment-grade gold, while others focus on collectibles that may not be ideal for resale.

Risk warning: All investments carry risk, including potential capital loss. Economic fluctuations and market changes affect returns, and 40-50% of investors underperform benchmarks. Diversification helps but does not eliminate risks. Invest wisely and consult professional financial advisors.

Buying from gold dealers

Buying gold from dealers in Italy comes with its own set of advantages, from guaranteed purity to access to unique designs. Unlike informal markets, Italian dealers follow strict rules, making the process safer. However, this also means higher prices in some cases and restrictions on how you can pay. Whether you’re buying for investment or personal use, knowing how to choose the right dealer and verify authenticity can save you from overpaying or falling for counterfeits.

Guaranteed quality with official certification. Italian dealers follow strict rules, so the gold they sell is always stamped with official purity marks and comes with proper documentation.
Access to unique Italian gold jewelry. Italy has a long history of fine gold craftsmanship, and many dealers offer handmade pieces that aren’t available anywhere else. If you’re looking for a one-of-a-kind design, you’ll have plenty of options.
You can buy investment gold without paying extra taxes. Gold bars and coins meant for investment are exempt from VAT in Italy, unlike gold jewelry.

Branded gold jewelry costs more. Italian gold brands are well-known worldwide, and that reputation means higher price tags, even if the gold itself isn’t worth much more.
Cash payments have limits. Italy has rules that restrict how much gold you can buy with cash. Many dealers require bank transfers or card payments for large transactions, which may not be ideal for buyers who prefer cash deals.
Tourist areas have overpriced or fake gold. Some street vendors sell gold-plated or low-karat jewelry at high prices, hoping tourists won’t notice.

Process

Make sure the dealer is registered. In Italy, legitimate gold dealers must be registered with the Bank of Italy. Ask for their certification and verify it online before making a purchase.
Check the gold’s purity stamp and weight. Italian gold jewelry and bars have official markings, like “750” for 18-karat gold. If the stamp doesn’t match the paperwork, don’t buy.
Consider keeping your gold in a secure vault. Some dealers offer storage services, so you don’t have to take the gold home immediately. This is useful if you’re buying gold as an investment and don’t want to worry about security.

Buying from banks

Buying gold from banks in Italy is one of the safest ways to invest in physical gold, but it comes with a structured process that requires patience. Unlike private dealers, banks follow strict regulations, meaning every gold bar or coin sold is fully certified. However, this also means higher costs, formal paperwork, and fewer choices when it comes to weight and design. If you’re looking for long-term investment security, buying from a bank can be a great option, but it’s important to know exactly how the system works.

Gold is always certified and comes with proof of authenticity. When you buy from a bank, you get official documents confirming the purity and weight of your gold. Every gold bar or coin is stamped and verified, so there’s no risk of getting low-quality or fake gold.
Banks offer secure storage options. If you don’t want to keep gold at home, some banks let you store it in their vaults for a fee. This is useful if you’re buying in large amounts and want added security.
Easier to resell through official channels. Since banks provide certified gold, it’s easier to sell it later without needing extra verification. Some banks even have repurchase programs, allowing you to sell the gold back to them when you need liquidity.

Bank gold is more expensive. Banks add extra costs for certification, security, and transaction fees. This makes their gold pricier than what you’d find at private dealers or gold exchanges.
Limited selection of gold types. Banks only sell standard gold bars and coins — there’s no jewelry, custom pieces, or smaller weights. If you want more variety, you’ll have to look elsewhere.
Purchasing requires paperwork. Buying gold from a bank isn’t as simple as walking in and paying. You need to provide ID, proof of residency, and in some cases, explain where your funds came from.

Process

Find a bank that sells physical gold. Not every bank in Italy offers direct gold sales. Some only deal with gold-based investment products, so check before you visit.
Ask about buyback options. Some banks sell gold but won’t buy it back later. Before purchasing, find out if the bank will repurchase your gold and at what rate compared to the market price.
Decide if you want to store the gold at the bank. Some banks offer storage services, but these come with fees. If you prefer keeping your gold secure without handling it yourself, this could be a good option.

Buying from jewellery shops

Buying gold from jewellery shops in Italy is more than just a purchase — it’s an experience shaped by tradition, craftsmanship, and strict industry regulations. Italian jewellers are known for their fine attention to detail, offering gold pieces that are often handmade and carry a level of quality that mass-produced jewellery lacks.

Handmade designs that hold value. Many Italian jewellers still create gold pieces by hand, meaning you’re not just buying gold — you’re buying craftsmanship. These one-of-a-kind designs can become valuable over time, especially if made by a well-known workshop.
All jewellery must be stamped with an official hallmark. In Italy, licensed jewellers are legally required to mark gold with purity stamps, so there’s no guesswork about authenticity.
Luxury brands can make resale easier. Jewellery from brands like Bulgari or Buccellati is easier to resell internationally because buyers trust their reputation. If you ever decide to sell, these pieces may hold their value better than unbranded gold.

Brand names push prices higher. Italian designer jewellery is beautiful, but the price often includes more than just the gold — it covers branding, marketing, and craftsmanship.
Tourist-heavy areas have inflated prices. If you shop in places like Milan’s luxury district or Rome’s city center, you’ll likely pay more just because of the location. Many tourists buy without comparing prices, so shops take advantage of this by charging more.
Refunds and exchanges aren’t always allowed. Some high-end jewellery stores have strict no-return policies, especially on custom pieces. Before you buy, ask about their return policy so you don’t end up stuck with something you regret.

Process

Shop in less touristy areas. Popular shopping streets charge a premium for their location, but smaller jewellers outside these areas often have better deals. Ask locals for recommendations instead of relying on stores near tourist attractions.
Check how much of the price is for gold vs. design. Italian jewellery is priced on more than just weight — it includes workmanship, branding, and sometimes gemstones. Ask the jeweller for a cost breakdown so you know exactly what you’re paying for.
Claim a VAT refund if you’re visiting from outside the EU. If you spend over a certain amount, you can get a tax refund at the airport before leaving Italy. Make sure the shop gives you the required tax-free forms at checkout.

Buying digital gold

If you want to invest in gold but don’t want the hassle of storing bars or coins, digital gold is a great alternative. In Italy, you can buy it through ETFs, gold mining stocks, or accounts that hold real gold for you. These let you invest with smaller amounts and trade easily, but not all digital gold means you actually own physical metal. Some options only track gold prices, so before you jump in, make sure you understand exactly what you're investing in.

You can start with a small amount. Unlike physical gold, you don’t need to buy an entire bar — just invest what you can afford.
Quick to buy and sell. You can trade digital gold instantly through a brokerage, unlike physical gold, where selling takes more effort.
No worries about theft or storage. Your gold is either backed by an ETF or stored in a secure vault, so you don’t need to keep it at home.

Not all digital gold means real ownership. Some funds only let you trade based on price movements, not actual gold.
Hidden fees can eat into profits. ETFs and funds charge management fees, and some platforms have withdrawal or storage costs.
Gold mining stocks can be unpredictable. Unlike ETFs that follow gold prices, mining stocks depend on company performance, which can be risky.

Process

Pick a trusted brokerage. Open an account with a platform that offers gold ETFs, mining stocks, or digital gold accounts. Make sure it’s regulated in Italy.
Decide how you want to invest. Choose between ETFs that track gold prices, mining stocks that offer growth potential, or accounts that let you own real gold.
Check fees and ease of selling. Compare trading costs, storage fees, and how easy it is to sell when needed. Some platforms charge extra for withdrawals or physical redemption.
Keep an eye on gold prices. Gold’s value shifts with inflation, interest rates, and global demand. Stay updated on market trends so you know when to buy or sell.

How to buy digital gold in Italy

Choosing a platform

Start by picking a reliable digital gold provider or broker offering gold stocks/ETFs that has a solid reputation and transparent pricing. Look for platforms that clearly show their storage details and are backed by strong regulations. Before signing up, check reviews and see if the platform charges hidden fees. If you don’t want to go through the hassle of analyzing all the options, you may refer to our shortlist of top brokers for gold investing in Italy presented below:

Best brokers in Italy that allow investment in gold
	Min. deposit, $	XAU/USD spread, pips	XAU/USD commission, $	Withdrawal fee, %	Max. Regulation Level	TU overall score	Open an account
Eightcap	100	25			Tier-1	9.2	Open an account Your capital is at risk.
XM Group	5	35	3,5		Tier-1	9.1	Open an account Your capital is at risk.
RoboForex	10	18	2	0-4	Tier-3	9	Open an account Your capital is at risk.
TeleTrade	10	35			Tier-1	8.69	Open an account Your capital is at risk.
VT Markets	100		3	1-3	Tier-1	8.7	Open an account Your capital is at risk.

Creating an account

Once you’ve chosen a platform, you’ll need to create an account and verify your identity. This step is necessary to prevent fraud and ensure secure transactions. You’ll also have to link a payment method, which can be a bank account, credit card, or even a digital wallet, depending on the platform.

Buying digital gold

Decide how much gold you want to purchase based on your budget and market prices. The platform will handle the purchase and store the gold in a secure vault. Some platforms even let you choose storage locations, so check if that option is available.

Selling digital gold

When you’re ready to sell, you can place a sell order through the platform. The gold will be sold at the current market rate, and once the transaction is complete, the money will be deposited into your linked account. Some platforms allow instant withdrawals, while others take a day or two to process payments.

Legal and tax considerations

Investing in gold in Italy is subject to specific regulations and tax policies designed to promote transparency and align with European Union standards.

Regulations:

Liberalization of the gold market: the Italian gold market was liberalized by Law No. 7/2000, ending the monopoly previously held by the Italian Exchange Office. This change allows Italian residents to buy and sell investment gold freely, without value-added tax (VAT), provided these transactions are for investment or asset protection purposes and not conducted professionally.
VAT Exemption: in line with EU Directive 98/80/EC, Italy exempts investment gold — such as gold bars and coins meeting specific purity criteria — from VAT. This exemption aims to promote gold's use as a financial instrument.

Taxation:

Capital gains tax: profits from the sale of investment gold are considered financial income and are subject to a substitute tax. The Budget Law of 2024 introduced significant changes to this taxation, applying a substitute tax to capital gains derived from investment gold transactions.
Wealth tax on Financial Assets Abroad (IVAFE): Italian residents holding financial assets outside Italy, including gold investments, are subject to IVAFE at a rate of 0.2%. This tax applies to the value of financial assets held abroad.

Investors should consult with tax professionals to understand their specific obligations and ensure compliance with all applicable Italian laws and regulations when investing in gold.

Tips for safely buying gold in Italy

Tips for buying gold in Italy

Buying gold in Italy can be a smart investment, but knowing how to spot reliable dealers and avoid hidden risks is key to making a safe purchase.

Buy only from registered gold dealers. Not all gold sellers in Italy are legally authorized to trade investment gold. Always check if the dealer is registered with the Bank of Italy or a reputable financial institution. Licensed dealers must follow strict regulations, reducing the risk of counterfeit or overpriced gold.
Avoid tourist-heavy areas for better prices. Gold shops in major tourist zones often inflate prices, assuming visitors lack local knowledge. Instead, visit reputable gold dealers in financial districts or areas known for precious metal trading, where prices are more competitive and transparent.
Check for the “750” or “999” hallmark on gold. Italian gold jewelry and bullion must have official purity stamps indicating their gold content. If a dealer refuses to show this mark or claims their gold is “pure” without documentation, walk away.
Verify VAT exemption before buying investment gold. Gold bars and coins meant for investment are VAT-free in Italy, but some dealers may still try to charge tax to uninformed buyers. Ensure you’re purchasing from a dealer who understands the legal tax exemptions.

Avoid tourist markups and secure the best rates

Buying gold in Italy isn’t just about finding a dealer — it’s about knowing where to get the best deal. Many buyers fall into the trap of shopping in tourist-heavy areas, where gold is often overpriced and not always as pure as advertised. Instead, visit gold dealers in business districts or areas where banks source their gold. These sellers usually have better prices because they serve serious investors, not just tourists. Another overlooked strategy is watching currency exchange rates. If the euro is strong against the dollar, gold prices in Italy can be more attractive, giving you a chance to buy at a lower cost than in other regions.

Another common mistake is paying unnecessary taxes. Investment-grade gold — such as bars and select coins — is supposed to be tax-free in Italy, but some sellers try to charge VAT, hoping buyers won’t notice. To avoid this, always ask for a detailed invoice that confirms the gold’s weight, purity, and tax-exempt status. Also, think about where you’ll store your gold after purchasing it. Italian banks offer private vaults that provide secure storage for large purchases, an option worth considering if you don’t want to keep high-value gold at home. If you prefer storing it yourself, a high-quality safe designed for precious metals is a better choice than standard safes, which may not protect against theft or humidity.

Conclusion

Buying gold in Italy offers several options, including physical and digital investments. Understanding where and how to buy gold, verifying authenticity, and considering legal factors ensures a secure and profitable investment.

FAQs

Can foreigners buy gold in Italy?

Yes, foreigners can legally buy gold in Italy from authorized dealers, banks, and online platforms. Proper identification and documentation may be required for large transactions.

Is gold in Italy VAT-free?

Investment gold, such as bars and coins that meet purity standards, is VAT-exempt in Italy. However, gold jewellery is subject to VAT.

Where is the best place to buy gold in Italy?

Reputable gold dealers, banks like Banca d’Italia, and online platforms such as BullionVault and GoldMoney are the best places to buy gold in Italy.

Do I need a bank account to buy gold in Italy?

A bank account is typically required when purchasing gold from banks. However, gold can be bought from dealers and online platforms without a bank account.

Team that worked on the article

Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses that want to improve their Google search rankings to compete with their competition. With expertise in search engine optimization (SEO) and content marketing, he ensures his work is both informative and impactful.

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).