In this guide

How to buy gold online

Q: Is it better to buy gold coins or bars?

Generally it is considered better to buy gold bars over coins. Gold coins require extra steps in the production process and therefore tend to cost more on an ounce per ounce basis. Gold is traditionally molded into bars which are easy to transport and store. Bars are what the majority of central banks who own gold have.

Q: How do beginners buy gold?

Once you have made up your mind of what method you are going to use to buy gold you’ll need to register with a broker. A broker will allow you to buy gold cost effectively and easily. Its always a good idea to read guides like the one here to learn more about buying gold online.

Q: Can you buy gold at the bank?

Yes. A relatively traditional way to buy gold, sell and store gold is to do so through a bank. Banks already come with their own vaults, so they have storage covered, but they might charge more to sell you gold than an online broker typically would. Note that you can’t use banks for gold transactions in the UK but it is something you can do in the U.S. and certain other countries.

Q: Should I own physical gold?

It can be a good idea to own physical gold, although you will need to consider how much it will cost you to store it. A much easier way to buy gold is digitally. Using an online brokerage platform you can buy gold through lots of different methods like stocks, ETFs, funds, and CFDs. It is often much cheaper to purchase gold this way.

Q: Is it worth buying 1g gold bars?

If you’re interested in investing in gold and want a tangible asset, 1g of bullion is a great way to get started. One of the benefits of investing in a small amount of gold is that you will have lower storage and insurance costs. You could even decide to keep the gold in your own home to save on fees.

Q: Is it difficult to sell gold bars?

No, as long as you buy your gold from a trusted and reliable dealer, selling it should not be an issue. However, it is important to ensure that your gold is safely stored and not damaged in any way, as this could impact its resale value. The easiest option is to buy gold from a dealer and have them handle all storage.

Q: What is the downside of buying gold?

One of the major downsides of buying gold is that it does not provide passive income. It also does not really provide steady returns. While gold prices have been rising over the years, there have been long periods of consolidation, where prices do not move much in either direction.

Gold is one of the most popular commodities and is used for a range of purposes. Buying it online has never been easier and in this guide we’ll explain how to buy gold online in 2024

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Updated: Aug 1, 2024

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This beginner friendly page explains what you need to know about buying gold online. We explain the different ways you can buy it, offer a step-by-step guide on how to buy it, and explore what makes it a good investment. Read on to learn more about buying gold online.

Compare the best platforms to buy gold

If you want to buy gold you’ll find it easiest to use an online brokerage. Below, our commodity experts have selected some of the best platforms around where you can buy gold right now. Click on any of the links to get started in just a few minutes.

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How to buy gold online – a step-by-step guide

There are a few different ways you can buy gold online and all require you to use a broker. Below we’ve included the steps you need to take to buy gold online.

1. Choose your broker

You can either buy physical gold or buy gold derivatives like futures or CFDs. Either option will require you to use a broker. When selecting your broker you’ll need to consider their fees and commissions. If you’re buying physical gold you’ll also need to think about storage costs.

2. Decide on your budget

Gold is usually priced per ounce and its value fluctuates daily. When investing in gold you should carefully consider your budget and stick to it. Allocating a portion of your portfolio to gold is a good way to gain exposure to it and it goes without saying to never invest more than you can afford to lose.

3. Do your research

As gold is such a popular commodity there is lots of information about it online. You should take the time to research it and its potential before moving forward with any purchases. There are times when its price will rise faster than other assets and times when its value may fall. Good research will help you time your investment.

4. Decide how to buy

There are lots of ways you can buy gold. From physical bars delivered to your front door, to futures contracts, or gold mining companies. Each way to buy has its own benefits and drawbacks and you should decide which method you want to use.

5. Register your broker account

You’ll have already selected your broker by now and will be ready to register an account. This is a quick process and all you need to do is fill in your contact information on your brokers sign up page. You may have to provide a form of identification before you can deposit funds.

6. Make your purchase

Now you can go ahead and buy your gold. First you need to log into your brokerage account and find the method of investing you want to use (futures, etfs, stocks, bullion etc.) Next if you are happy with the price you can enter how much you want to purchase and click the buy button.

Find a broker to buy gold >

What is gold?

Gold is a precious metal commodity that has a range of uses. From jewellery, electronics, and safe haven investing among others, gold has been used for thousands of years as a form of currency. Buying gold and holding it for a long period of time is considered a safe investment by many experts and, at times, it has outperformed other assets.

Types of gold you can buy online

When buying physical gold online you have a few options of the type of bullion you can purchase. Here’s a rundown of the types of gold you can buy online:

Gold bars

Gold bars are probably what comes to most people’s minds when thinking of gold. Below are the pros and cons of gold bars.

Pros: Gold bars offer the least expensive price per ounce way to buy gold. A gold bar also takes up less storage room on a per-ounce basis. Buying gold bars offers a long-term store of value, making them a good asset to hold on to, especially as a hedge against economic turmoil and stock market crashes.

Cons: Physical gold is always vulnerable to theft. Also, if you buy a larger gold bar you might have trouble selling it, simply because you’ll need to find a buyer who can afford it. Bigger bars come with the added expense of requiring an official assay before they can be sold and you’ll need to pay for its secure storage.

Gold coins

Gold coins are minted in a number of different places, including the United States, Canada, Mexico, and Australia. Here are the pros and cons associated with buying gold coins:

Pros: Gold coins are value-dense, easy to store, portable, and can be liquidated anywhere in the world. They’re low maintenance, impossible to hack or erase, and a great hedge against market volatility. Their smaller size compared to bars makes them more accessible to all ranges of budgets.

Cons: Coins have a more intricate design, making them prettier than plain bars…but also more expensive to produce and thus more expensive on a per-ounce basis to buy. They’re also more vulnerable to theft, and don’t produce interest or dividends.

Which method is right for me?

Your own circumstances, risk appetite, and goals may determine which method of buying gold is right for you. You can find a brief rundown of each below:

Physical. Buying gold bars or coins is best suited to investors staying for the long term. Physical gold comes with storage costs so you’ll need to consider that when deciding. Gold has a broad range of uses in its physical form, so rather than speculating on its price, you’ll also benefit from buyers wanting it in the future.
Digital. If you want to buy gold to add it to your portfolio as a way to diversify or hedge against inflation then digital is the best way. You have lots of options to buy gold online from stocks, ETFs, funds, and CFDs. Buying gold using one of these methods is an easy way to speculate on its price over the long or short term.

How do I store gold bars?

When you buy physical gold one thing you need to consider is how you’ll store it. As it’s a tangible asset of value, you’ll also need to think about insurance. There are several options available to store gold securely. You can use an online storage service, or keep it at home.

Here’s a look at the various gold storage options.

Online storage

Most reputable online gold sellers will also offer storage services in a secure vault. Just consider the size of your gold portfolio first: If your total gold investing budget is less than $1,000, a significant chunk of that amount (at least $100 per year) would be spent paying the seller to store the gold for you.

Online storage is the easiest way to store your gold. The dealer will take care of everything for you and all you have to do is pay a monthly or yearly fee. You’ll probably never even see or hold your gold in your own hands if using a third party gold storage company.

Home storage

You can also receive home delivery of gold, and then find a secure storage space in your home. Some investors feel better knowing that their gold is always within arm’s length.

Plus if you plan to hold gold long-term, you only need to invest in a vault once, rather than pay storage fees year after year. The downside is that your risk of theft goes up if you store such valuables in your home. You’ll also need to buy insurance to protect your investment, adding to your total cost.

Besides insurance, you’ll also need to think about where you’ll store your gold in your home. You could buy a safe or vault, although this would add to your costs. It’s important to find a safe place within your home to securely store your gold bars or coins.

High street brokers

If you want to store your gold somewhere that’s not your home but also prefer not to transact online, visit a local High Street broker to talk to a real, live human face-to-face and explain your storage needs.

High Street brokers will process your gold purchase, and then take care of storage for you, erasing the hassle and security worries that come with stashing gold in your home.

Banks

Like high street brokers, you may be able to visit your local bank and purchase and store gold directly with them. Lots of leading banks offer the ability to buy gold bars and also take care of storage and insurance for you. However, this will come at a cost as you’ll have to pay fees to the bank to keep your gold bullion secure.

Is buying gold online a good investment?

It can be, as historically its price has risen over time, although past performance is no guarantee of future success. When global economic conditions are poor, gold tends to perform well and is a good investment to hedge against inflation. It’s also an excellent way to diversify your portfolio and its numerous uses means demand in the coming years will continue to grow.

Unlike lots of other investments, when buying gold online you have lots of options as to the way to buy. You can buy physical gold which can be delivered directly to your home, or kept in secure storage. You can also buy it through online brokerages using stocks, ETFs, mutual funds, or CFDs.

Its versatile use, different ways to buy, and store of value features makes it a good investment for anyone wanting to protect their portfolio while benefiting from long term growth prospects.

How to buy gold stocks

Gold stocks refer to companies that operate within the gold industry. This can include a wide range of businesses from miners to refineries and many more. Buying gold stocks is a top way to invest in the metal. Businesses operating in the gold industry, especially miners, see their share prices mimic that of the price of the commodity.

Our collection of brokers above allows you to invest in the very top-performing gold stocks as well as the best gold ETFs to help you diversify your portfolio.

Should I buy gold online now?

It depends on your goals and investment circumstances, however its performance over the past 2 decades means it has rarely been a bad time to buy. If you want to hedge against inflation, diversify your portfolio, or want an alternative to traditional investments, then buying gold online could be a good decision.

FAQs

Is it better to buy gold coins or bars?

How do beginners buy gold?

Can you buy gold at the bank?

Should I own physical gold?

Is it worth buying 1g gold bars?

Is it difficult to sell gold bars?

What is the downside of buying gold?

More metals buying

Sources & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Prash Raval

Financial Writer

Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.

James Knight

Editor of Education

James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.