Trading in precious metals

Hi, I have a question in relation to trading in precious metals on the market. If I trade in gold (buying and selling gold) am I correct in thinking that the gain will be subject to capital gains tax if above the annual exemption amount rather than income tax. I assume that income tax would only apply if the buying and selling of precious metals was something I was doing as a trade? Please can anyone elaborate? Many thanks

Hi Safina Kausar,
The gain arising from the acquisition and disposal of assets, would be subject to capital gains tax once the annual exempt allowance is exceeded.  
Regular and frequent trading can be argued to be the profits of a trade, profession or vocation and be subject to income tax.  
This would be largely determined by the facts of the case.
Thank you.