If you trade gold, then chances are you will file the Capital Gains Tax (CGT) at some time or another. The CGT accounts for gains made on the selling of gold and other investments, such as stocks, bonds, and property.
According to Investopedia, “Capital gains are the profits that an investor realizes when he or she sells the capital asset for a price that is higher than the purchase price.”
In other words if you sold your precious metal holdings for a higher price than you paid for it, you probably have to file the CGT form on your next tax return.
For more information on who has to pay, how much you have to pay and what to include in your filings, read: Is Your Gold Taxable?