Fidelity offers investors the opportunity to purchase precious metals as part of a diversification strategy. We offer operations with gold, silver, platinum and palladium ingots, ingots and coins. When trading precious metals, Fidelity acts only as an agent; we have no inventory of precious metals, nor does Fidelity buy or sell taking positions in the market. We ship your orders directly to the investment companies we use, FideliTrade or ScotiamoCattaTM, which buy and sell for us in the precious metals market.
It's essential to understand several other stipulations before buying gold or other precious metals through Fidelity. The experts at Birch Gold Group provide simple, step-by-step instructions on how to convert an existing retirement account into a precious metals IRA. We'll look at the gold and gold-related products offered by Fidelity, along with their stipulations and rates. Unlike many of its peers, Fidelity allows investors to buy precious metals such as gold in its portfolio. In that case, it's best to focus on gold mining and exploration companies that benefit from extracting gold from the ground and selling it at market prices.
The company's main gold investment fund, Fidelity Select Gold Portfolio (FSAGX), allocates around 80% of its capital to companies engaged in gold-related activities, and up to 25% of its capital goes directly to gold and other precious metals. If you read the extremely small print here, you'll discover that instead of selling you physical precious metals, Fidelity passes your order to a subsidiary, FideliTrade. Fidelity offers its customers a retirement account option where they can store gold and other precious metals. As a full-service brokerage agency, Fidelity clients can purchase individual stocks to be exposed to gold and precious metals. Fidelity charges a fixed percentage of each gold transaction depending on the purchase or sale price of the order.
This includes major gold ETFs, such as SPDR Gold Trust (GLD), iShares Gold Trust (IAU) and SPDR Gold MiniShares Trust (GLDM), among others. Certain types of gold coins, gold ingots, platinum coins, platinum ingots, silver coins, silver ingots, and palladium bars are among the types allowed.