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Buy Gold and Silver on Wells Fargo (2024)
Can I buy or sell precious metals, silver and gold bars, coins, bullion, gold ETFs and
precious metals mutual funds on Wells Fargo? Does Wells Fargo sell gold?
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Can I Buy Gold at Wells Fargo?
If you're interested in trading gold and silver, WellsTrade and Wells Fargo Advisors might have the options you need, though not all methods are available.
Important Takeaways
- WellsTrade provides some ways to invest in gold and silver.
- Both WellsTrade and Wells Fargo Advisors offer ETFs that hold gold and silver.
- Wells Fargo Advisors also provides access to futures contracts on these metals.
- You can buy stocks in gold-mining companies through both WellsTrade and Wells Fargo Advisors.
Silver and Gold Bullion on Wells Fargo
Neither Wells Fargo Advisors nor WellsTrade allows the purchase of physical gold or silver, such as bars or coins.
Wells Fargo Gold and Silver Futures Contracts
While WellsTrade does not offer futures contracts, Wells Fargo Advisors gives you access to futures and managed futures funds, potentially allowing indirect investment in precious metals.
Precious-Metals ETFs at Wells Fargo
Both WellsTrade and Wells Fargo Advisors enable trading in ETFs that contain physical precious metals. These ETFs hold only gold and/or silver, without any securities or futures contracts.
To find these ETFs, use the ETF screener under the Research tab on WellsTrade’s website. Select the "Commodities – Precious Metals" sector to narrow your search.
Among the ETFs listed, GLD (SPDR® Gold Shares Fund) is a notable one, holding billions in gold stored in HSBC Bank’s vaults in London, with an expense ratio of 0.40% per year.
SLV, another significant ETF, holds approximately $9.9 billion in silver and offers fractional ownership in silver assets.
Gold-Mining Stocks
Investing in stocks of companies engaged in gold and silver mining offers another avenue to participate in the precious metals market. These stocks can be traded through WellsTrade and Wells Fargo Advisors.
For example, Newmont Corporation, listed under the ticker NEM on the New York Stock Exchange, offers an insight into a major gold-mining operation, with significant analyst coverage and ratings available.
Wells Fargo and Competitors
Options on Gold and Silver Products
The options market for gold and silver securities is vibrant. At WellsTrade, you can trade individual calls and puts, though complex strategies are not available. Use the Option Chain tab on a stock's or ETF's profile to see available contracts.
Commissions on Precious-Metals Assets at Wells Fargo
Online trades of gold and silver stocks and ETFs are commission-free at WellsTrade. Options cost 65¢ per contract. For futures contracts and managed futures in brokerage or advisory accounts at Wells Fargo Advisors, fees vary, with advisory accounts possibly incurring a 2% annual management fee.
Updated on 7/4/2024.
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