Gold's spot price on Friday, October 23, 2026, was $4,026.218 per ounce, slightly lower than the previous day's $4,083.82 per ounce. As a safe-haven asset, gold is often sought after during economic and political turmoil due to its reliability as a store of value and hedge against inflation.
Investors can add gold to their portfolios through various methods. Buying physical gold, such as bullion or coins, is a popular option. Retailers like Costco and Walmart, as well as online dealers like APMEX and JM Bullion, offer these products. However, storing physical gold securely and converting it to cash can be challenging.
Another option is opening a gold IRA, which allows investors to buy gold from IRS-approved refiners and have it stored securely by a custodian. This method comes with fees for setup and management but offers tax benefits. Companies like Birch Gold Group and Goldco provide gold IRA services with varying fee structures and minimum investment requirements.
For those preferring a more traditional investment approach, gold exchange-traded funds (ETFs) track the price of gold. These can be purchased through platforms like Schwab and Fidelity, which offer commission-free trading for certain investments.