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5 simple ways to buy and sell gold in 2024
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There’s no question that the investing landscape can change quickly — and without much notice. All it takes is one unexpected event, like a global pandemic or a geopolitical conflict, to have a big impact on the market, and when that happens, it can have a devastating impact on the value of the stocks or other traditional investments in your portfolio.
Given how quickly the investing atmosphere can change, it makes sense that investors often turn to alternative investments to try and diversify their portfolios and safeguard their wealth. One popular alternative asset is gold, a precious metal that has retained its value throughout history, making it a smart option for reducing portfolio risk.
Gold investing hit an 11-year high in 2023, thanks in large part to the unique benefits investors can glean by adding it to their portfolios. And, this year, buying and selling gold is also more accessible than ever, thanks to a variety of buying and selling options that cater to different preferences and financial goals.
Start exploring your gold investing options online here.
5 simple ways to buy and sell gold in 2024
There are several easy ways to invest in gold this year, including:
Physical gold
The classic way to invest in gold has typically been to purchase physical gold — which is generally sold in the form of gold coins or bars. This method allows investors to own a tangible gold asset that can be stored securely.
Many reputable dealers offer a variety of gold products, ranging from small coins to 1-gram and 1-ounce gold bars or larger gold bars. But while physical gold provides a sense of security due to its tangible nature, it’s important to be mindful of storage costs and the potential challenges of liquidating physical assets quickly if you want to take this route.
Find out what your top gold investing choices are today.
Gold stocks
If you’re looking for exposure to the gold market without directly owning physical gold, you may want to consider gold mining stocks. Gold mining companies are involved in exploration, extraction and production of gold, and their stock prices are influenced by the performance of the gold market. While this option introduces additional risks associated with the mining industry, it also provides the potential for capitalizing on the growth of gold prices and the profitability of mining operations.
Gold exchange-traded funds (ETFs)
If you’re seeking a more liquid and easily tradable form of gold investment, gold ETFs can be an attractive option. ETFs are investment funds traded on stock exchanges, representing ownership in underlying assets (in this case, gold).
You can buy and sell shares of gold ETFs just like stocks, which is a flexible and cost-effective way to gain exposure to the precious metal. However, it’s crucial to carefully research and choose reputable gold ETFs to ensure the security and legitimacy of the investment.
Digital gold platforms
Digital gold platforms recently emerged as a convenient way to get involved with gold. These platforms allow you to purchase and sell gold or fractional amounts of gold through an app or online platform, making it accessible even to those with smaller budgets.
However, if you take this route, it’s essential to choose platforms with secure storage options and transparent pricing structures to ensure a trustworthy digital gold investment.
Gold futures and options
If you’re an experienced investor who’s willing to engage in more sophisticated financial instruments, gold futures and options can be a way to speculate on the future price movements of gold. Futures contracts involve an agreement to buy or sell a specified amount of gold at a predetermined price and date in the future, while options provide the right (but not the obligation) to buy or sell gold at a predetermined price.
These financial derivatives require a deep understanding of the market and carry higher risks, so they are typically more suited to seasoned investors who are comfortable with complex financial instruments.
How to decide which option makes sense for you
Choosing the right method to buy and sell gold depends on various factors, including your financial goals, risk tolerance and investment preferences.
Investment goals
Consider your primary investment objectives. If you’re looking for a safe-haven asset to hedge against economic uncertainties, physical gold may be a suitable choice. For those seeking potential capital appreciation, gold mining stocks or financial instruments like futures and options might align better with growth-oriented goals.
Risk tolerance
Evaluate your risk tolerance before diving into the gold market. Physical gold is generally considered a lower-risk option, providing a more stable tangible asset. On the other hand, gold mining stocks and financial derivatives can be more volatile, appealing to investors comfortable with higher levels of risk.
Liquidity needs
Assess your liquidity needs and how quickly you might need to access your investment. Physical gold can be less liquid and may require time to sell. If liquidity is a priority, ETFs, digital gold platforms or financial instruments like futures and options can offer more immediate transaction capabilities.
Costs and fees
Take into account the associated costs and fees of each investment option. Physical gold may incur storage and insurance expenses, while ETFs and digital platforms might have transaction fees. Understanding the overall costs involved will help you make informed decisions about the most cost-effective approach.
Knowledge and experience
Evaluate your level of knowledge and experience as well. Novice investors might find physical gold or ETFs more straightforward, as they are less complex compared to trading stocks or engaging in futures and options markets. Experienced investors may be comfortable exploring a broader range of options.
The bottom line
Whether you prefer the security of physical gold, the convenience of digital platforms or the potential returns from gold-related financial instruments, there are options to suit various investment preferences right now. As with any investment, though, it’s crucial to conduct thorough research, consider your financial goals and risk tolerance, and, if necessary, seek advice from financial professionals before making any decisions.
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Long before comic book characters dominated movie screens, actor Christopher Reeve made the world believes in superheroes with the 1978 classic “Superman.”
Reeve died in 2004, nearly a decade after an accident re-shaped his life. “Super/Man: The Christopher Reeve Story” is using interviews with family and friends and never-before-seen home videos to explore his real-life heroism.
Reeve started his career on the stage, studying at the prestigious Juilliard School and living with comedian Robin Williams. The pair had a friendship that was “more like a brotherhood,” said Reeve’s son Matthew. Reeve was in awe of Williams’ energy and versatility, Matthew Reeve said, but audiences quickly clued into Reeve’s own star power when he took on the role of the Man of Steel.
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To his children, though, he “was just dad,” Matthew Reeve said. The documentary explores how Matthew Reeve and his sister Alexandra Reeve Givens grew up watching their dad take the stage as Superman. “Super/Man” also reveals their heartbreak over their parents’ breakup and the joy they found when Reeve re-married. He tied the knot with Dana Reeve in 1992, and the pair welcomed another child, William Reeve, later that year.
“Dana was sunshine,” Alexandra Reeve Givens recalled. “She just brought joy with her wherever she was and could find it even in the darkest moments.”
Those dark moments came suddenly, when in 1995, a near-fatal horseback riding accident left Reeve paralyzed from the neck down. The documentary allows viewers to see, for the first time, what went on out of the public’s view. Reeve can be heard talking about how he “ruined (his) life and everybody else’s,” but in a touching moment, old friend Robin Williams is seen visiting him in the hospital.
“Robin showed him ‘Hey, you’re still you,'” Alexandra Reeve Givens said. “‘You still have this foundation of friendship and people around you, who adore you. And you’re going to find those fun moments in life again.'”
That support from friends and family re-ignited Reeve’s legacy of activism. He made appearances at the Democratic National Convention and the 68th Academy Awards in 1996, about a year after the accident. Matthew Reeve said watching his father address his industry peers at the Oscars was “one of (his) most proud moments.”
“It was just a production for him to get out of bed every morning, let alone get across the country and go out in public for the first time,” Matthew Reeve said. “It was a big deal. It was a big deal to him, but it was also a big deal to the entire disability community. We stayed up in London till like three in the morning to watch that live. It’s a fond memory.”
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Reeve also went on to launch what would become the Christopher and Dana Reeve Foundation, which is dedicated to advancing research into spiral cord injury and help individuals and families impacted by paralysis. It was his dad’s mission to find a cure, Matthew Reeve said, while his stepmother wanted to focus on improving the lives of paralyzed people and their families. The foundation and Reeve’s platform helped bring unprecedented attention and funding to spinal cord injury research.
Reeve even kept acting and realized his lifelong dream of directing with the 1997 HBO movie “In the Gloaming.” Reeve died in 2004 from heart failure at 52.
“There is a huge amount of great actors and actresses out there, where their filmography might be amazing and what they achieve on a cultural level might be amazing, but have they actually achieved anything really as a human that moves the needle for our society?” said filmmaker Ian Bonhote, who made the documentary with Peter Ettedgui. “And Chris has done both things.”
“Super/Man: The Christopher Reeve Story” will open in theaters on Friday, Oct. 11.
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