The price of gold has reached $4,174.78 per ounce as of 9:00 a.m. ET on October 9, 2026, marking a slight increase from Thursday's price of $4,118.63 per ounce. Gold, known as a safe-haven asset, 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, including buying physical gold bullion or coins. Popular dealers like APMEX and JM Bullion offer gold bullion and coins, with some retailers like Costco and Walmart also providing options. However, investors must consider secure storage and the lack of immediate liquidity when purchasing physical gold.
Another option is opening a gold IRA, which allows investors to buy gold from an IRS-approved refinery and have it stored securely by a custodian company. While gold IRAs offer tax benefits, they come with fees for account setup and ongoing management, which can impact potential growth. Companies like Birch Gold Group and Goldco provide gold IRA services with varying fees and minimum investment requirements.
For those preferring a more traditional investment approach, gold exchange-traded funds (ETFs) track the price of gold. These ETFs can directly invest in bullion or in shares of mining companies. Investors can purchase gold ETFs through platforms like Schwab and Fidelity, which offer no commission fees for certain investments.