Invest in Gold: Top Brokers in the United States for 2025

How to invest in gold

Investing in physical gold

Acquiring physical gold means purchasing gold bars or coins from reputable dealers. Investors take direct ownership of the metal, which is recognized globally and can be stored at home, in a bank safe deposit box, or by specialized vault services. Ownership protects against inflation and currency risk, but investors must consider ongoing storage and insurance fees, limited liquidity, and security risks. Physical gold does not generate income but can offer peace of mind during periods of financial instability.

Example of Gold Investment Costs

Example: You purchase a 1 oz gold bar at $3,100 in 2025. Immediately, you pay a dealer premium of $70 and opt to store it in a private vault for $120 per year. After four years, if gold trades at $3,600 per ounce, your potential gain is $500 per ounce minus roughly $550 in total storage and premiums.

Investing via ETFs and sector company stocks

Gold ETFs provide exposure to the price of gold without handling the actual metal. Shares can be traded like any stock and are highly liquid, typically tracking the gold price closely (minus a small annual fee). Sector stocks—such as gold mining companies—offer leveraged exposure to gold price moves, though returns are also affected by business factors and may include dividends. Both methods fit most investors, but keep in mind that stocks tend to be more volatile than ETFs or physical gold.

Gold Investment Example

An investor buys $12,000 of a leading gold ETF with a 0.40% annual fee. If gold rises 10% from $3,100 to $3,410 per ounce in a year, the ETF position could gain nearly $1,200 minus $48 in fees. Alternatively, $5,000 in a major gold miner could rise (or fall) more steeply depending on company performance, but could provide $50–$150 in yearly dividends.

Investing in gold with derivatives

Derivatives—such as futures, options, and CFDs—allow active traders to speculate on gold price movements with leverage. This means a small cash outlay can control a larger gold position, magnifying gains but also increasing potential losses. Traders can profit whether prices rise or fall, but must carefully manage risks (including margin requirements and rapid price swings). These complex products typically suit only experienced investors comfortable with volatility.

Example of a Gold Futures Trade

A trader posts $4,000 margin to go long one standard gold futures contract at $3,150/oz. If gold advances to $3,250, the $100 move produces a $10,000 gain (100 oz contract size); if gold drops to $3,050, the loss is $10,000—possibly exceeding the initial margin and triggering a margin call.

How to Choose the Best Broker to Invest in gold

Choosing the right broker for gold investment depends on the investment method that matches your goals, risk tolerance, and the degree of involvement you want in your portfolio. Whether you’re looking for direct ownership of physical gold, seeking convenient trading through ETFs or mining stocks, or prefer leveraged products like derivatives, each approach demands a broker with specific strengths. Carefully considering your investment style and the characteristics of the available platforms will help ensure security and efficiency in your gold transactions.

Best broker for physical purchase

A broker specializing in physical gold purchases functions as a precious metals dealer, allowing you to buy gold bars and coins for personal possession or secure storage. The best brokers in this area offer various forms and weights of gold, provide storage solutions, and facilitate authenticated transactions.

• US regulation and membership in reputable industry bodies (e.g., National Futures Association, CFTC registration)
• Transparent pricing with clearly stated premiums over spot price
• Verifiable product authenticity (certification, serial numbers)
• Secure, insured storage options in US-based or globally recognized vaults
• Clear options for buyback or resale
• Simple purchasing and withdrawal process

Expert advice

Always verify that your broker is regulated by a US authority and provides insured storage and certified products. Compare storage fees and buyback conditions, and test the broker’s customer service before investing significant amounts.

Best broker to invest in ETFs and sector company stocks

To gain exposure to gold through ETFs or mining stocks, you’ll need a broker giving you access to major US exchanges and a range of investment accounts, with user-friendly platforms for buying and holding these securities. The ideal broker minimizes trading costs and offers strong research tools and support.

• SEC and FINRA regulation, with Securities Investor Protection (SIPC) coverage
• Low online trading commissions and transparent fee structures
• Access to a wide range of gold ETFs, mutual funds, and mining companies
• Robust trading platform with real-time data and research resources
• Account options for IRAs, taxable, and retirement investing
• Responsive, US-based customer support

Expert advice

Choose only brokers regulated in the US and registered with SIPC. Always check the total cost structure, including commissions and fund expense ratios, since these can impact your net returns, especially for long-term holdings.

Best broker to trade gold with derivatives

If you seek leveraged gold exposure or advanced trading strategies, look for brokers that support derivatives trading—such as gold futures, options, or CFDs—on regulated US or global exchanges. Key features should include tight spreads, reliable execution, and robust account protection.

• CFTC-registered and NFA-member status (for US brokers)
• Clear margin requirements, transparent leverage, and risk disclosures
• Advanced trading platforms with real-time analytics, risk management, and demo accounts
• Access to a broad choice of gold derivatives and global commodity markets
• Comprehensive educational resources for risk management
• Reliable customer support during markets’ extended trading hours

Expert Advice for Derivatives Trading

Use only brokers registered with US commodity market authorities for derivatives trading. Understand all margin, spread, and overnight financing fees, and make sure the broker provides robust support for risk management and fast response to queries.

The reasons to invest in gold

Gold has long held a special place in global financial markets for its stability and value retention. Today, gold continues to attract both individual and institutional investors because of its enduring reputation as a safe haven during market turbulence, proven capacity to hedge against inflation, and key role in portfolio diversification. Over the past decade, its strong price appreciation, high liquidity, and universal acceptance make gold an asset that stands apart in uncertain economic and geopolitical environments.

• Provides a reliable safe haven during financial and political crises
• Acts as an effective inflation hedge, preserving purchasing power as currency values decline
• Offers diversification benefits since gold typically moves independently of stocks and bonds
• Maintains high liquidity, allowing for easy buying and selling on global exchanges
• Supported by long-term demand from central banks and technology sectors
• Physical gold carries no counterparty risk when securely stored
• Historically demonstrates resilience and growth across economic cycles

Gold’s unique qualities and sustained price growth underscore its ability to preserve and grow wealth for investors over the long term.

The fees associated with investing in gold

Understanding the fees involved is an essential step before investing in gold, as the actual returns you receive may be affected by both direct and indirect costs. Depending on whether you invest through physical gold, gold ETFs/stocks, or gold derivatives like CFDs, the fee structures differ significantly. Comparing these costs upfront allows investors to make informed choices, avoid unpleasant surprises, and better estimate the net benefit of their gold investments.

Buy/Sell Commissions

Buy/sell commissions represent the flat fee or percentage charged each time you buy or sell gold through your broker or dealer. In physical gold transactions, these are often higher due to logistics and verification. For gold ETFs and stocks, the amount is typically lower and charged per trade. Derivatives may have no commissions, but some platforms apply a small round-turn fee.

Real Example:

If you purchase a gold bar through a dealer with a $40 commission and sell it later with another $40 commission, your round-trip cost is $80, excluding other fees. For a gold ETF, buying $5,000 worth with a $6 commission means only $4,994 gets invested.

Brokerage Fees

Brokerage fees are periodic charges (monthly, annual, or transactional) applied by your account provider for facilitating trades or maintaining your account. They can vary depending on the product: physical gold often has no brokerage fee after purchase, but ETF or stock accounts can charge a monthly or annual fee. CFD accounts may include a platform fee or minimum monthly activity fee.

Real Example

If your gold ETF broker charges $8 per month and you invest for one year, you pay $96 just to hold your account, regardless of trading activity. CFD accounts might deduct $10/month if your activity falls below a certain threshold.

Spreads

The spread is the difference between the buy and sell price. For physical gold, it’s usually wider to cover handling and retail risks. ETFs typically offer narrow spreads thanks to exchange liquidity. Trading gold via CFDs or futures involves a quoted spread which can vary by market conditions and dealer.

Real Example of Spread Cost

Real Example: If you buy a gold coin at $2,100 and could only resell it for $2,080 at the same moment, your spread cost is $20/oz. When trading a gold ETF, a $0.10 spread per share on 100 shares represents a $10 difference on your transaction.

Other Fees

Other fees can significantly impact your net return. For physical gold, storage and insurance are recurring costs—vault storage may start at $100 per year, and insurance at $50+ per year. ETFs and funds may charge an annual management fee (e.g., 0.25%), while CFDs may have overnight financing (swap) charges and currency conversion fees for non-USD accounts.

Real Example:

Keeping $10,000 worth of physical gold in a secured vault at $100/year storage and $50/year insurance costs you $150 annually. Holding $10,000 in a gold ETF with a 0.25% expense ratio costs you $25 per year. If you use CFDs to hold $10,000 in gold and overnight financing is 3% annually, this is $300 each year.

The tax on income from trading gold in the United States

Investing in gold in the US is subject to specific tax rules depending on the type of investment vehicle you use. Physical gold, gold ETFs, mining stocks, derivatives, and digital accounts each have distinct tax treatments set out by the IRS. Understanding these differences is important for planning your investment strategy and anticipating your tax liabilities.

• Physical gold: Gains on sales after more than one year are taxed as collectibles at a maximum rate of 28%; sales under a year are taxed as ordinary income.
• Gold ETFs (physically-backed): Treated like physical gold; long-term capital gains also subject to a maximum 28% collectibles tax rate.
• Gold ETFs (futures-based): Often considered Section 1256 contracts, taxed with a blended rate: 60% at long-term (20%) and 40% at short-term (ordinary income) rates.
• Gold mining stocks: Gains taxed as regular stocks—long-term (after one year) at 0-20% based on income level, short-term as ordinary income; dividends may qualify for lower tax rates.
• Gold derivatives (futures, options, CFDs): Section 1256 contracts are "marked to market" at year-end, with 60% taxed as long-term and 40% as short-term gains.
• Digital gold accounts: Treated as physical gold; long-term capital gains subject to the 28% collectibles tax rate.

Investors in the US must report all capital gains from gold investments on IRS Form 8949 and Schedule D as part of their annual tax return. Section 1256 gains from futures and certain ETFs are reported on Form 6781. If you hold mining stocks, dividends should be reported as income. Note that losses may offset gains for tax purposes. There are no flat taxes or exemptions for gold, and corporate or professional traders may face different or additional rules, so always keep detailed transaction records and consult a tax specialist for complex situations.

10 tips for choosing the right broker to speculate on gold

Choosing a reliable and well-suited broker is essential for anyone looking to speculate on gold via derivatives such as CFDs or futures. A strong broker provides the necessary regulatory protections, a fair and transparent trading environment, efficient order execution, and access to useful risk management tools. Proper broker selection directly impacts your trading results, costs, and your overall experience in the volatile gold market.

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.