Decide what you want to own
Buying bullion means you own a physical thing, delivered to you or stored for you. Buying a gold exchange-traded fund means you own shares of a fund whose job is to track the gold price, as described in its prospectus. Read how the specific fund is structured and what it actually holds.
Compare the costs over your holding period
Bullion comes with a dealer premium, storage, insurance, and a spread when you sell. A fund comes with an annual expense ratio and a bid-ask spread when you trade. Run both over the number of years you expect to hold.
Think about getting your money out
Selling stored bars means getting a dealer quote, shipping, and waiting for settlement. Selling fund shares means a trade in your brokerage account during market hours. Neither guarantees the price you had in mind.
Keep the rest of your money in view
Gold can swing hard and pays nothing while you hold it. Decide how much of your portfolio it should be and how much cash you need to keep liquid. Talk to a tax professional about which account it belongs in.
Now put it to use
Take these questions to the comparison and see which company answers them best.
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