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3 simple ways to invest in gold online

Rusty wheelbarrow full of gold bars
Investing in gold online is simple if you use these strategies. Chris Clor/Getty Images

While gold has always been of interest to investors, gold investing has grown in popularity in recent years — and for good reason. Gold is considered a safe haven asset, and by adding gold to their portfolios, investors can help preserve their wealth, hedge against inflation and mitigate risk from their other investments. And, that may be more important than ever right now, as persistent inflation is continuing to negatively impact the economy.

But those aren't the only reasons investors are flocking to gold and other precious metal investments. With the advent of online platforms, investing in gold is now more accessible than ever before. These days, all it takes to buy gold is logging onto the web, where any number of gold investments are at your fingertips, which has opened the door for more investors to buy in.

So, if you're considering an investment in gold, you have lots of online options to do so. Not all of them are simple, though, and it can be easy to get overwhelmed — especially for beginner investors. Luckily, there are a few easy ways you can get started and invest in gold online, which we've outlined for you below. 

Start exploring your gold investing options with a free information kit.

3 simple ways to invest in gold online

Ready to get started with online gold investing? Here are a few easy ways you can do that.

Buy gold bullion from an online dealer or marketplace

Investing in physical gold bullion offers you a tangible asset, and online dealers and marketplaces have made purchasing physical gold more convenient than ever. Gold bullion comes in various forms, including gold coins and bars, so start by researching the pros and cons of each and decide which suits your investment goals and preferences.

Then, narrow down the online dealers or marketplaces to the ones that offer the type of gold bullion you're looking for. But before you make any purchases, ensure that the dealer or marketplace you choose is reputable and has a history of reliable transactions. Read over customer reviews, review ratings and look for any affiliations with recognized industry organizations.

You may also want to consider the premium over the spot price — which is the current price of gold — that you'll pay when purchasing from a dealer. This premium covers the cost of fabrication and distribution, but it varies from one dealer or marketplace to the next, so make sure it fits your budget. 

And since you're purchasing physical gold, you should also consider how you'll store it securely. Some dealers offer storage services for a fee, while others may recommend independent storage facilities.

Learn more about your gold investing options right now.

Invest in gold ETFs with an online brokerage

For investors seeking exposure to gold without the hassle of storing physical assets, gold exchange-traded funds (ETFs) offer a convenient solution. Investing in ETFs also provides diversification, as these funds often hold a range of gold-related assets. In turn, this can help mitigate the risk associated with investing in a single gold asset.

In order to invest in gold ETFs or mutual funds online, you'll need to open an account with an online brokerage or app that offers these investment options. Start by narrowing down the options to the ones that offer gold-related ETFs, as not all may offer these types of investments. And be sure to look for the online brokerages offering funds that align with your investment goals, risk tolerance, and fees.

There is one disadvantage to consider, though, and that's extra fees. Gold ETFs charge annual percentage-based fees, and the more gold ETFs you own, the more expensive it gets. Still, this is a simple way to invest in gold online, so it may be worth pursuing after you determine whether the fees charged by different funds align with your investing goals. 

Invest in gold-related stocks online

Investing in gold-related stocks is similar to investing in gold-related ETFs. But rather than putting your money into a fund, you're investing in stocks for individual companies, like precious metal mining companies. These types of stocks are offered by a wide range of online brokerages and apps, making it simple to invest in gold.

To invest, you'll need an online brokerage account to trade stocks. Before you choose an app or online brokerage platform, though, you should identify gold mining companies or other gold-related stocks that align with your investment objectives and ensure that the brokerage offers what you're looking for. 

Note, though, that while investing in individual gold stocks can offer higher potential returns, as well as other benefits, like potential dividends, it also carries higher risks than gold ETFs, as there is nothing in place to mitigate the risk. So, it can be helpful to invest in multiple gold stocks to spread your risk if you take this route.

The bottom line

Whether you're interested in holding physical gold, gaining exposure through funds, or investing in gold-related stocks, the digital age has made it easier than ever to participate in gold investing. There are a number of easy ways to invest in gold online — and many investment types to choose from — so choose the one that best suits your investment preferences and risk tolerances. But, as with any investment, conduct thorough research, understand your risk tolerance and consult with financial professionals when necessary to make informed decisions for your portfolio.

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