4 ways to add gold to your investment portfolio

Geopolitical conflicts and economic tensions this year have sparked a new wave of interest in gold as an investment. This comes as the precious metal’s price has been on a rollercoaster: As of March 10, gold’s spot price was$5,226.72 per ounce, down from its record high of $5,400 in January.

When turmoil and uncertainty shake the economy, gold prices tend to spike — after all, gold is a store of value that has little correlation tostocks and bonds.U.S. and Israeli strikes on Iran, as well as the capture of Venezuelan President Nicolás Maduro, caused stock market volatility this year and an interest in thesafe-haven investment.

If you want to start investing in gold, it’s possible to start at the same places where you buy paper towels and cereal.Costco and Walmart both offer gold bullion, as does Amazon, but the prices aren’t as competitive and therefore not our top pick.

Whether you want to buy a bar or invest in the precious metal without storing it, there are several ways to incorporate it into your investment portfolio. Here’s what you need to know.

The members-only warehouse can be a convenient source for gold bars. Costco sells the popular bars in-store and online, but only members can check the price. What’s more, the small markup makes the store attractive to investors: While a standard markup on a gold bar can be as much as 10%, Costco’s markup is between 1% and 2%.

There are also opportunities to earn cash back. Executive members can earn a 2% annual reward on all store purchases. Members who also have aCostco Anywhere Visa® Card by Citiare also eligible for an additional 2% cash back on in-store purchases

However, Walmart’s gold offerings aren’t sold directly by the retailer. The gold options we reviewed were sold and shipped by independent sellers, many of whom are reputable gold dealers themselves.

Exchange-traded funds (ETFs) are a group of securities bundled into one fund that is traded together. Investing in a gold ETF allows you to buy shares in the precious metal through a brokerage without physically storing the asset.

Mutual funds pool money from numerous investors to buy a diversified portfolio of securities managed by professionals. Gold mutual funds are typically invested in shares of gold mining companies.

You can also invest in shares of mining companies directly. These companies tend to see their share prices rise when gold’s spot price climbs.

You’ll need to use an investment platform to buy in. Fidelity or E*TRADE are two of our top choices, since both have many ETF and mutual fund options with zero commission fees.

Gold IRAs allow you to hold physical gold or other precious metals in your retirement accounts and are designed to hedge against inflation. These accounts are opened through a company that acts as a custodian of the gold on your behalf, storing it and buying it back if you retire and want to trade it in for cash.

Both Roth and traditional gold IRAs are available, and, much like their standard counterparts, gold IRAs have tax benefits. With a traditional gold IRA, you don’t pay taxes on contributions, while withdrawing them at your future income level later. With a Roth gold IRA, you buy with after-tax dollars, and money is withdrawn tax-free in retirement.

Opening a gold IRA is relatively simple. Goldco is a top choice as it allows customers to open a gold IRA without a substantial minimum deposit. Another one of our picks isAmerican Hartford Gold for its low, transparent fees.

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