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Gold has long been sought after by investors due to its intrinsic value, the finite supply and the multiple benefits it offers. But with persistent inflation and high rates now impacting the economy, gold has become even more alluring to investors, especially those who are focused on protecting their portfolios.
This uptick in interest has had a big impact on the price trends recently. With more investors flocking to the precious metal, the price of gold has hit several new milestones in recent weeks, starting with a new record high of $2,160 per ounce in early March — up from just over $1,990 per ounce in mid-February. And, since that time, the value of gold has continued its upward trend and is now hovering just under $2,400 per ounce.
Considering today’s economic conditions, it’s likely that the uptick in gold demand will continue, at least over the short term. So, it could be a smart time to buy in and capitalize on any future price increases that may occur. There are lots of gold investing options to choose from, but if you’re looking for 1-ounce gold bars in particular, there are several good buying options available to you.
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Gold prices are surging: Where to buy 1-ounce gold bars now
Here are some of the top options to consider if you want to buy 1-ounce gold bars right now:
Online gold retailers
A wide variety of online gold dealers specialize in the sale of precious metals, including 1-ounce gold bars. These platforms often have a vast selection of gold options to choose from and may offer convenient shipping options, making them a popular choice for investors who prefer the ease and flexibility of online shopping.
The main benefit of purchasing 1-ounce gold bars from an online retailer is the convenience and accessibility it provides. These platforms typically offer a broader selection of products and may be able to provide more competitive pricing due to their economies of scale.
However, there are some potential drawbacks, such as the possibility of shipping delays and concerns about the authenticity of the gold bars, which can be especially concerning for first-time gold buyers.
Find out more about how gold investing could benefit your portfolio today.
Precious metal dealers
Dedicated precious metals dealers are another option for those looking to purchase 1-ounce gold bars. These companies typically have deep expertise in the market and can provide guidance on the best purchase options, as well as information on the current market trends and economic factors influencing gold prices.
Investing in 1-ounce gold bars through a specialized precious metals dealer can be advantageous for those seeking personalized advice and a high level of expertise. These dealers often have a strong understanding of the market dynamics and can assist you with guidance about your purchases. That said, the selection at precious metal dealers may be more limited compared to larger online retailers, and the prices may be slightly higher due to higher overhead and the added value of the dealer’s expertise and services.
Local coin shops
Many local coin shops offer 1-ounce gold bars for sale. These establishments can provide personalized service and may offer competitive prices, particularly for those willing to negotiate. The employees also typically have deep expertise in the precious metals market and can provide valuable insights to help you make informed purchasing decisions.
The main advantage of buying from a local coin shop is the opportunity to interact with knowledgeable dealers who can walk you through the purchase process and provide recommendations based on your specific needs. And, these shops may be more willing to negotiate on prices, allowing you to potentially get a better deal.
The selection of gold bars may be more limited at local coin shops, though, and the inventory may be less consistent compared to larger retailers or online platforms. So, keep those factors in mind when determining where to buy your 1-ounce gold bars.
Banks
Some banks also offer the sale of 1-ounce gold bars. While the prices may not be as competitive as other options, the convenience and security of purchasing through a financial institution may be appealing to some investors, especially those who prioritize the institutional backing and reputation of the seller.
Buying 1-ounce gold bars through a bank can provide a sense of security and reliability to you as an investor. And, the institutional reputation and regulatory oversight of banks can offer peace of mind, especially if you’re unfamiliar with the precious metals market. The downside is that the selection and pricing may not be as favorable as other options, and the convenience factor may be outweighed by the potential for higher costs.
Retailers like Costco and Walmart
Costco began selling 1-ounce gold bars to its members on its website late last year, and demand from its members was so high that the warehouse retailer had trouble keeping gold in stock. Since that point, Costco has begun selling other precious metals, including silver coins, in addition to its gold offerings.
If you’re a Costco member, the convenience and competitive pricing of purchasing 1-ounce gold bars through the warehouse club can make it an attractive option. However, the high demand and limited inventory can be a drawback, as you may have to wait for new stock to become available or face the possibility of missing out on a purchase altogether.
Another major retailer that recently entered the gold market is Walmart, and the company’s vast presence makes it an accessible option for those seeking to buy 1-ounce gold bars. Still, the retailer’s selection of precious metals may be more limited compared to specialized dealers.
The bottom line
As the price of gold continues to rise, the demand for physical gold bars is likely to remain strong. So, it could be a good time to invest in gold bars to diversify your portfolio and gain the many other benefits of gold investing. But when considering where to buy 1-ounce gold bars, it’s important to research each option carefully and compare prices, premiums and delivery times. And, be sure to only purchase from reputable and trusted sources to ensure the authenticity and quality of the gold bars. That way, you can be sure that the moves you’re making will help maximize your investment potential.