Gold's spot price — or its current trading value — today as of 9:00 a.m. ET is $4,523.29 per ounce, according to CNBC's Gold/ US Dollar Spot Price. That's slightly higher than yesterday's price, when it traded at $4,433.87 per ounce at the same time.
Gold is a safe-haven asset that investors gravitate toward when economic and political turmoil erupts, sending waves through the markets. That's because it's a reliable store of value, a hedge against inflation and can perform well during market downswings.
While there are some drawbacks compared to traditional investments — such as its inability to earn dividends — there are several ways to add gold to your portfolio.
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How to invest in gold
Open a gold IRA
Opening a gold IRA removes the pressure of investing in physical gold.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
Minimum initial purchase requirement of $10,000
Minimum account balance of $25,000
Account set-up fee of $50. Storage fees of $100 or $15, depending on storage type. Annual account administration fee of $125. Terms apply.
Minimum purchase requirement of $10,000
Minimum account balance of $10,000
Annual IRA fee of $75 for accounts valued at $100,000 or less, $125 for accounts valued at $100,001 or more
Storage fee varies with the depository but typically is a flat $100 annual storage fee in most cases
Gold IRAs allow you to buy gold from an IRS-approved refinery and a custodian company you choose handles storing it securely. While you will have to pay some fees for account setup and ongoing management, you'll get tax benefits like you would in any other IRA account.
Many of the top gold IRA plans have low, transparent fees and even offer buyback programs when you're ready to sell your gold for cash.
Birch Gold Group has affordable management, setup and storage fees. It can also waive these fees for the first year if your account is over $50,000 in value.
Birch Gold Group
Initial Purchase Requirements
Minimum initial purchase requirement of $10,000
Account Minimums
Minimum account balance of $10,000
Fees
Account Set Up Fee: $50
Storage/Insurance: $100
Management Fees: $125
Terms apply.
Pros
- On new accounts of more than $50,000, Birch Gold will pay first year’s fees.
- A+ Better Business Bureau rating
- AAA Business Consumer Alliance rating
- Easy to locate fees
- Offers account transfers from a Traditional IRA, Roth IRA, eligible 401(k) and more
Cons
- Flat fees aren't as friendly to smaller investors
- Asset transfers can take up to three weeks to complete
Goldco offers a buyback guarantee stating you'll get the best possible rate with no additional fees when you're ready to sell.
Goldco
Initial Purchase Requirements
Minimum initial purchase requirement of $10,000
Account Minimums
Minimum account balance of $25,000
Fees
Account set-up fee of $50. Storage fees of $100 or $15, depending on storage type. Annual account administration fee of $125.
Terms apply.
Pros
- Highest buy-back price guarantee
- Charges flat rates for storage fees and maintenance
- Rated A+ by the Better Business Bureau and Triple A by the Business Consumer Alliance
Cons
- Only offers gold and silver
- Small orders may not be cost-effective due to fees
Buy physical gold
Buying gold bullion — or bars or ingots that are of high purity — is a popular way to get in on the action. You can get them from a variety of gold dealers, including online stores APMEX and JM Bullion. However, you can also source them from some retailers that you shop at every day, including Costco and Walmart.
Buying gold coins is another common way to invest, as they can feature unique and historic designs that provide added value. Many companies sell gold coins, including APMEX and JM Bullion, which offer a wide variety of precious metals and affordable — and sometimes free — shipping.
APMEX Precious Metals
Features
APMEX is a longstanding gold dealer, selling precious metals online since 2000. It offers gold, silver and platinum in both bullion and coins. The brand offers plenty of educational resources on its website to help you make informed purchases. And, when its time to sell, APMEX also buys gold, silver and platinum from consumers.
Shipping
Domestic orders of $199 or greater receive free shipping.
Pros
- Also buys gold and other precious metals from consumers
- Support can be reached by phone or via online chat
- Also offers Gold IRAs
Cons
- Prices vary by payment method
- Cancelled orders may be charged the greater of $50 or 5% of the order total
JM Bullion Precious Metals
Features
JM Bullion has been selling precious metals online since 2011, and sells gold, platinum and silver bullion and coins. In addition to selling precious metal products, the brand also buys gold from consumers and offers a gold IRA. For assistance, the brand's Texas-based customer service team is available from 8 a.m. to 6 p.m. CST Monday through Friday.
Shipping
Domestic orders of $499 or greater receive free shipping. Shipping on orders under $499 cost $9.95.
Pros
- Offers a gold IRA option
- Buys scrap precious metal ($1,000 minimum)
Cons
- Costs vary by payment type
- Higher free shipping limit than competitors
Before you buy, you should plan how you'll keep your investment safe and secure, since you'll need to store it yourself.
Invest in gold through an ETF
Another easy way to invest in gold is to buy it the same way you'd buy shares of any other investment.
Gold exchange-traded funds (ETFs) track the price of gold. Some gold ETFs directly invest in bullion kept in vaults, while others invest in shares of mining companies that tend to follow the price of gold while also being swayed by the companies' management decisions, efficiency and financials.
You can buy these ETFs in most investing platforms, including our favorite accounts like Schwab and Fidelity.
CNBC Select previously named Fidelity as a top pick for its various options with no commission fees.
Fidelity Investments
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open a Fidelity Go® account, but minimum $10 balance for robo-advisor to start investing.
Fees
Fees may vary depending on the investment vehicle selected. Zero commission fees for stock, ETF, options trades and some mutual funds; zero transaction fees for over 3,400 mutual funds; $0.65 per options contract. Fidelity Go® has no advisory fees for balances under $25,000 (0.35% per year for balances of $25,000 and over, which includes access to unlimited 30-minute coaching calls with a Fidelity advisor and tax-loss harvesting on taxable accounts).
Bonus
None currently. Check Fidelity's promotions page for the latest offers here.
Investment vehicles
Robo-advisor: Fidelity Go® IRA: Traditional, Roth and Rollover IRAs Brokerage and trading: Fidelity Investments Trading Other: Fidelity Investments 529 College Savings; Fidelity HSA®
Investment options
Stocks, bonds, ETFs, mutual funds, CDs, options and fractional shares
Educational resources
Extensive tools and industry-leading, in-depth research from 20-plus independent providers
Terms apply.
Pros
- No commission fees for stock, ETF, options trades
- No transaction fees for over 3,400 mutual funds
- Fidelity Go® portfolios use Fidelity Flex® mutual funds with zero expense ratios
- Human advisors manage day-to-day Fidelity Go® portfolio decisions
- Unlimited 30-minute coaching calls with a Fidelity advisor for accounts of $25,000 and over (at no extra cost)
- Tax-loss harvesting available on taxable Fidelity Go® accounts with $25,000 or more
- Abundant educational tools and resources with research from 20-plus independent providers
- 24/7 customer service
- Over 100 brick-and-mortar branches across the U.S. for face-to-face support
Cons
- Fidelity Go® has a 0.35% advisory fee per year for balances of $25,000 and over
- Fidelity Go® invests only in Fidelity Flex® mutual funds (no third-party ETFs or individual securities available)
- No socially responsible or ESG portfolio option through Fidelity Go®
- Some of Fidelity's mutual funds require reaching specific thresholds
- Reports of platform outages during heavy trading days
Schwab is a standout because, unlike other investing apps, it has a $0 minimum deposit for active investing, making it widely accessible.
Charles Schwab
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No account minimum for active investing through Schwab One® Brokerage Account. Automated investing through Schwab Intelligent Portfolios® requires a $5,000 minimum deposit
Fees
Fees may vary depending on the investment vehicle selected. Schwab One® Brokerage Account has no account fees, $0 commission fees for stock and ETF trades, $0 transaction fees for over 4,000 mutual funds and a $0.65 fee per options contract
Bonus
None
Investment vehicles
Robo-advisor: Schwab Intelligent Portfolios® and Schwab Intelligent Portfolios Premium™ IRA: Charles Schwab Traditional, Roth, Rollover, Inherited and Custodial IRAs; plus, a Personal Choice Retirement Account® (PCRA) Brokerage and trading: Schwab One® Brokerage Account, Brokerage Account + Specialized Platforms and Support for Trading, Schwab Global Account™, Schwab Organization Account and Schwab Trading Powered by Ameritrade™
Investment options
Stocks, bonds, mutual funds, CDs and ETFs
Educational resources
Extensive retirement planning tools
Terms apply.
Pros
- $0 minimum deposit for active investing
- No commission fees for stock and ETF trades and no transaction fees for over 4,000 mutual funds
- Offers extensive retirement planning tools
- Users can get on-demand advice from a professional advisor/Schwab expert
- Robo-advisor Schwab Intelligent Portfolios® available as a no-fee automated service option (with Premium version available for a fee)
- Award-winning thinkorswim® trading platforms and all their cutting-edge tools are now available at Schwab.
- 24/7 customer support access by phone or chat
- Charles Schwab offers over 300 brick-and-mortar branches across the U.S. for in-person support
Cons
- Specific transactions may require commission fee
- Robo-advisor Schwab Intelligent Portfolios Premium charges a one-time planning fee of $300, then a $30 per month advisory fee. For that price, you get unlimited 1:1 guidance from a CFP, interactive planning tools, plus a personalized roadmap for reaching your goals
Gold investing FAQs
How should you invest in gold as a beginner?
You can get started investing in gold in a few different ways, but it will largely depend on how much you're looking to invest. Those starting out with smaller investment limits might consider coins or small bullions, while those with higher balances to transfer might consider using a gold IRA.
What are the pros of investing in gold?
Investing in gold can diversify your portfolio, as it's seen as a safe-haven investment during times of uncertainty or turmoil and as an inflation hedge.
What are the cons of investing in gold?
Gold can be difficult to store at home, as you'll need some way to protect your purchase. Additionally, it can take a few extra steps to liquidate when you do decide to convert it back to cash, compared to other types of investments like stocks or bonds.
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