Today, the UK Advertising Standards Authority (ASA) published an Enforcement Notice on the advertising of physical gold and other precious metals investments.

In June 2026, ASA banned five ads for physical gold and other physical precious metal as investments. These ads broke the rules by failing to make clear that:

• gold and other precious metal investment was unregulated;
• the value of investments was variable;
• examples of past performance were not necessarily a guide to the future.

ASA rules make clear that advertisers shouldn’t market physical gold or other physical precious metals as investment products, unless key information and risk warnings are displayed clearly and prominently. This is so the public can make informed decisions about what they’re investing in.

The Enforcement Notice informs the industry that they have a month to review and amend their ads before ASA takes action where the rules are not being followed.

ASA will begin actively monitoring after 26 November 2026, followed by targeted enforcement action where needed.