Things You'll Need:
- An online trading account
- Cash to buy gold stock
-
Step 1
The first step in buying gold stocks is to have an account that allows you to do just that. You can have an online trading account, or open an account with a broker. If you wish to trade gold futures, you'll want to have an account with a commodities broker. See my resources section on how to open an online trading account.
-
Step 2
Once your account is open and funded with cash, purchase gold stock. Do research to determine particular area of gold you'd like to buy. If you want to buy a gold mining stock, perhaps Barrick Gold or Freeport McMoran is for you. If you'd like to buy a gold refiner stock, perhaps something like Yamana Gold is more your speed.
-
Step 3
To buy gold stock that is directly indexed to the price of gold, purchase a gold exchange traded fund or ETF. GLD is a good example of an ETF that is indexed to the price of gold. This means that it is essentially a gold stock that will mirror the price of gold. The ETF is set up as a cost effective way to own gold bullion.
