Gold's spot price on Wednesday, October 28, 2026, reached $4,053.16 per ounce at 9:00 a.m. ET, marking a slight increase from Tuesday's $4,023.02 per ounce. As a safe-haven asset, gold attracts investors 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, along with 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 approach, gold exchange-traded funds (ETFs) track the price of gold. These ETFs can invest directly in bullion or in shares of mining companies. Platforms like Schwab and Fidelity offer commission-free trading on gold ETFs, making them an accessible investment option.