Where to Buy Gold ETFs and How to Get Started
You can buy gold ETFs through any brokerage account — online brokers, traditional banks, and investment firms all offer them
A gold ETF trades like a stock but holds physical gold or gold futures contracts. To buy one, you open an account with a brokerage, deposit money, search for the ETF by its ticker symbol, and place an order. The most widely held gold ETFs are SPDR Gold Shares (ticker: GLD), iShares Gold Trust (IAU), and Invesco QQQ Trust (GLD's competitor). You can buy fractional shares at most brokers, so you do not need thousands of dollars to start.
The brokerage you choose matters because fees, account minimums, and trading tools vary. Some brokers charge commissions per trade; others do not. Some require $500 or $1,000 to open an account; others have no minimum. The process itself is identical everywhere: log in, search the ticker, enter the number of shares, and confirm the order.
Key Takeaways
- Gold ETFs trade on stock exchanges and can be bought through any brokerage that offers stock trading, including online brokers, banks, and investment firms.
- The three largest gold ETFs by assets are GLD (SPDR Gold Shares), IAU (iShares Gold Trust), and OUNZ (VanEck Gold Miners ETF), each with different fee structures and holdings.
- Most online brokers charge no commission to buy or sell ETFs, but some traditional banks and advisors may charge per-trade fees or require higher account minimums.
- You can buy gold ETFs in a regular taxable brokerage account, an IRA, a 401(k) if your plan allows it, or a custodial account for a minor.
Online brokers with no account minimum or commission
Online brokers are the cheapest entry point for most investors. Fidelity, Charles Schwab, E-Trade, Webull, and Robinhood all allow you to buy gold ETFs with no commission and no account minimum. You can open an account in 10 to 15 minutes by providing your name, address, Social Security number, and employment information. Funding takes one to three business days via bank transfer or check deposit.
The main difference between these brokers is the research tools and educational content they offer. Fidelity and Schwab provide detailed analysis and screeners; Robinhood and Webull emphasize simplicity and mobile trading. All of them let you set up automatic investments, so you can buy a fixed dollar amount of a gold ETF every month without logging in each time.
Traditional banks and investment advisors
Your existing bank may offer brokerage services through a subsidiary or partner. Bank of America, Wells Fargo, and JPMorgan Chase all allow customers to trade ETFs through their investment platforms. The advantage is convenience — you already have the relationship and can manage investments alongside your checking account. The disadvantage is that some banks charge per-trade commissions ($5 to $10 per trade) or require higher account minimums ($2,500 to $10,000).
If you work with a financial advisor, they can buy gold ETFs for you as part of a managed portfolio. Advisors typically charge a percentage of assets under management (0.5% to 1.5% per year) rather than per-trade fees. This makes sense if you want ongoing advice about your overall portfolio, but it is more expensive than buying the ETF yourself through an online broker.
The three largest gold ETFs and their costs
GLD (SPDR Gold Shares) is the oldest and largest gold ETF, with over $60 billion in assets. It holds physical gold bars in vaults and charges an expense ratio of 0.40% per year — meaning you pay $40 annually for every $10,000 invested. IAU (iShares Gold Trust) is similar but slightly cheaper at 0.25% per year and holds about $30 billion in assets. OUNZ (VanEck Gold Miners ETF) does not hold gold itself but invests in gold mining companies, so its price moves differently and its expense ratio is 0.53% per year.
For most investors, GLD and IAU are interchangeable — the difference in cost is small, and both track the gold price closely. OUNZ is a different bet: mining stocks can outperform or underperform physical gold depending on the economy, so it suits investors who want leverage to gold prices rather than a direct gold holding. All three are highly liquid, meaning you can buy or sell shares instantly at any time the market is open.
Gold ETFs in retirement and tax-advantaged accounts
You can hold gold ETFs in an IRA (traditional or Roth), a 401(k) if your plan allows it, or a custodial account for a child. The tax treatment is the same as any other stock: in a traditional IRA or 401(k), you do not pay tax on gains until you withdraw; in a Roth IRA, gains are tax-free forever. In a taxable account, you owe capital gains tax when you sell at a profit.
One exception: gold held directly (not through an ETF) in an IRA must be stored with an IRS-approved custodian, which adds cost and complexity. Gold ETFs avoid this problem because they are securities, not physical assets. If your 401(k) plan does not offer gold ETFs directly, you may be able to buy them through a self-directed brokerage window if your plan offers one.
How to place your first order
After you open a brokerage account and fund it, buying a gold ETF takes five steps. First, log into your account and navigate to the "Trade" or "Buy" section. Second, search for the ETF by ticker symbol (GLD, IAU, or OUNZ). Third, enter the number of shares you want to buy or the dollar amount you want to invest. Fourth, review the order — the broker will show you the current price, the total cost, and any fees. Fifth, click "Confirm" or "Place Order".
The order executes instantly during market hours (9:30 a.m. to 4 p.m. Eastern time on weekdays). If you place an order after hours or on a weekend, it will execute at the next market open. Most brokers let you set a limit order, which means you specify the maximum price you are willing to pay — useful if you want to avoid buying at a sudden spike.
Comparing costs across brokers
| Broker | Account Minimum | Commission per Trade | Expense Ratio (GLD) |
|---|---|---|---|
| Fidelity | $0 | $0 | 0.40% |
| Charles Schwab | $0 | $0 | 0.40% |
| E-Trade | $0 | $0 | 0.40% |
| Webull | $0 | $0 | 0.40% |
| Bank of America | $0–$10,000 | $0–$10 | 0.40% |
| Wells Fargo | $0–$5,000 | $0–$7 | 0.40% |
The expense ratio is the same across all brokers because it is set by the ETF issuer (State Street for GLD, BlackRock for IAU). The real difference is whether your broker charges a commission. Online brokers have won this war — they all charge zero commission now, so your only cost is the ETF's expense ratio and the bid-ask spread (the tiny difference between the buy and sell price at any moment).
Frequently Asked Questions
Can I buy a gold ETF with just $100?
Yes. Most brokers allow fractional shares, so you can invest any amount. If GLD trades at $200 per share, you can buy 0.5 shares for $100. You will own a proportional piece of the gold the ETF holds, and you pay the same 0.40% expense ratio as someone who owns 100 shares.
What is the difference between GLD and IAU?
Both hold physical gold and track the gold price closely. GLD is larger and older; IAU charges a slightly lower fee (0.25% vs. 0.40%). For most investors, the difference is negligible. Pick whichever broker makes it easiest to buy, or split your investment between both.
Do I have to hold a gold ETF forever?
No. You can sell anytime the market is open by logging into your account, searching the ticker, and placing a sell order. The sale settles in two business days, and the cash lands in your account. You owe capital gains tax on any profit when you sell in a taxable account.
Can I set up automatic monthly purchases of a gold ETF?
Yes. Most online brokers offer automatic investment plans where you specify an amount and a frequency (weekly, monthly, quarterly). The broker deducts the money from your linked bank account and buys the ETF on your chosen date. This is called dollar-cost averaging and removes the guesswork from timing.
What happens if the brokerage goes out of business?
Your shares are protected by the Securities Investor Protection Corporation (SIPC), which guarantees up to $500,000 per account if a broker fails. Your gold ETF shares are held in your name, not the broker's, so they cannot be seized to pay the broker's debts. This protection applies at all brokers registered with the SEC.