As of 1 January 2026, a new capital gains tax regime will come into force in Belgium for certain financial assets. To ensure full clarity, we publish below the reference prices of the main precious metals as of the reference date 31 December 2025.

 

These reference prices serve as an objective basis for assessing a potential capital gain on gold.

 

IMPORTANT: the capital gains tax applies exclusively to gold.

 

Silver, platinum and palladium are not subject to this tax but remain subject to 21% VAT.

 

 

REFERENCE PRICES AS OF 31 DECEMBER 2025

 

GOLD

Euro per kilogram
€ 118,271.34

Euro per troy ounce
€ 3,678.65

US dollar per kilogram
$ 138,892.19

US dollar per troy ounce
$ 4,320.03

 

SILVER

Euro per kilogram
€ 1,957.84

Euro per troy ounce
€ 60.90

US dollar per kilogram
$ 2,304.60

US dollar per troy ounce
$ 71.68

 

PLATINUM

Euro per kilogram
€ 56,623.57

Euro per troy ounce
€ 1,761.19

US dollar per kilogram
$ 66,470.06

US dollar per troy ounce
$ 2,067.45

 

PALLADIUM

Euro per kilogram
€ 44,486.02

Euro per troy ounce
€ 1,383.67

US dollar per kilogram
$ 52,270.68

US dollar per troy ounce
$ 1,625.80

 

In summary, only gold falls within the scope of the Belgian capital gains tax as of 1 January 2026. For silver, platinum and palladium, the VAT regime remains applicable.

 

This publication is provided for informational purposes and serves as a reference. If you have any questions or wish to discuss your situation, please contact us. We provide professional and transparent guidance.