Yes, you can buy gold on Robinhood, but only through a gold ETF, not physical gold

Robinhood does not let you buy actual gold bars or coins. Instead, you can buy shares of a gold exchange-traded fund (ETF), which is a fund that holds gold or tracks its price. The most common gold ETF on Robinhood is GLD (SPDR Gold Shares), which you buy and sell like a stock. When you own GLD shares, you own a piece of the gold the fund holds in vaults, but you never receive physical metal.

Other gold ETFs available on Robinhood include IAU (iShares Gold Trust) and AAAU (Sprott Physical Gold Trust). Each tracks gold slightly differently and charges different fees, but all work the same way: you trade them during market hours like any other security.

Key Takeaways

  • Robinhood offers gold ETFs like GLD and IAU, which let you own a share of physical gold held in vaults without taking possession of it.
  • You cannot buy physical gold bars, coins, or bullion directly through Robinhood — only shares of funds that hold gold.
  • Gold ETFs trade during stock market hours and charge annual fees (typically 0.4% to 0.5% per year) that reduce your returns.
  • You can buy gold ETFs with fractional shares on Robinhood, meaning you can invest any dollar amount, not just whole shares.

How gold ETFs work on Robinhood

When you buy a gold ETF share, you are buying a piece of a fund that owns actual gold stored in secure vaults. The fund manager holds the physical metal and issues shares to investors like you. The share price moves up and down with the price of gold on the open market.

You trade gold ETFs during regular stock market hours (9:30 a.m. to 4 p.m. Eastern Time, Monday through Friday). You cannot trade them after hours or on weekends, unlike some other assets. The price you see on Robinhood updates in real time during market hours, so you know exactly what you are paying.

Robinhood charges no commission to buy or sell gold ETF shares, but the fund itself charges an annual fee called an expense ratio. For GLD, this is about 0.4% per year. That means if you own $1,000 in GLD, the fund takes about $4 per year in fees. This happens automatically and reduces the value of your shares over time.

The difference between gold ETFs and physical gold

A gold ETF is convenient but not the same as owning physical gold. With an ETF, you never touch the metal, never store it, and never have to insure it yourself. The fund handles all of that. You simply own shares that you can sell anytime the market is open.

Physical gold — bars, coins, or bullion — requires you to buy it from a dealer, store it safely (usually in a safe deposit box or home safe), and possibly insure it. You pay a markup when you buy and a different markup when you sell. Physical gold does not pay dividends or interest, and you cannot sell it instantly the way you can sell an ETF share.

If you want to own physical gold through Robinhood, you cannot do it. You would need to use a precious metals dealer, a bank safe deposit box, or a specialized bullion storage service. Robinhood is designed for trading securities, not for holding physical commodities.

Costs and fees to understand

Robinhood itself charges no commission to buy or sell gold ETF shares. However, the ETF fund charges an annual expense ratio that you pay indirectly. GLD charges 0.40% per year, while IAU charges 0.25% per year. AAAU charges 0.50% per year. These fees are deducted from the fund's assets, so your share value reflects them.

You also pay the bid-ask spread, which is the tiny difference between the price you pay to buy and the price you receive to sell. For popular ETFs like GLD, this spread is usually just a few cents per share, but it still costs you money on every trade.

If you hold gold ETF shares in a taxable Robinhood account (not a retirement account), you owe capital gains tax when you sell at a profit. If you hold for more than one year before selling, you pay long-term capital gains tax, which is usually lower than short-term rates. Dividends from gold ETFs are taxed as ordinary income.

Why people buy gold on Robinhood

Gold is often used as a hedge against inflation and economic uncertainty. When stock markets fall or the dollar weakens, gold prices often rise, which can offset losses elsewhere in your portfolio. Some investors keep a small portion of their money in gold for this reason.

Robinhood makes it easy to add gold to your portfolio without leaving the app. You can buy fractional shares, meaning you can invest $50 or $500 without waiting to save up for a whole share. You can also set up automatic investments or buy and sell quickly if you want to time the market.

However, gold does not pay interest or dividends the way stocks and bonds do. Your return depends entirely on whether the price goes up or down. Over long periods, gold has not kept pace with stock market returns, so most financial advisors suggest keeping only a small portion of your portfolio in gold.

Alternatives to gold ETFs on Robinhood

If you want exposure to gold but prefer a different approach, Robinhood also offers mining stocks and mining ETFs. These are companies that dig gold out of the ground and sell it. Mining stocks move with gold prices but also depend on the company's operations, costs, and management. They tend to be more volatile than gold ETFs.

You can also buy gold through a traditional brokerage, a bank, or a precious metals dealer. Some dealers offer storage and insurance services so you can own physical gold without keeping it at home. However, these services charge fees and are not available through Robinhood.

If you are interested in diversification rather than gold specifically, you might consider a broad index fund or a balanced portfolio of stocks and bonds. These have historically returned more than gold over long periods, though they also carry more risk.

How to buy gold ETFs on Robinhood

Open the Robinhood app and search for "GLD" or another gold ETF ticker. Tap the security, then tap "Buy." Enter the dollar amount or number of shares you want, review the order, and confirm. The order executes immediately during market hours or at the next market open if you place it after hours.

You can set up recurring investments so Robinhood buys a fixed dollar amount of gold ETF shares on a schedule you choose — weekly, biweekly, or monthly. This is called dollar-cost averaging and can reduce the impact of price swings over time.

To sell, search for the ETF, tap it, tap "Sell," enter the amount, and confirm. Your cash appears in your Robinhood account immediately and you can withdraw it or reinvest it.

Frequently Asked Questions

Can I take physical delivery of gold if I buy a gold ETF on Robinhood?

No. Gold ETFs are designed for trading, not for physical delivery. The fund holds the gold in vaults, and you own shares of the fund. If you want physical gold, you must buy it separately from a precious metals dealer.

What happens to my gold ETF shares if Robinhood goes out of business?

Your shares are held in your brokerage account and are protected by SIPC (Securities Investor Protection Corporation) up to $500,000 per account. The gold ETF itself is separate from Robinhood, so even if Robinhood closes, your shares and the underlying gold remain yours. You would transfer your account to another broker.

Is gold a good investment right now?

That depends on your goals and risk tolerance. Gold can hedge against inflation and market downturns, but it does not grow as fast as stocks over long periods. Most advisors suggest keeping only 5% to 10% of your portfolio in gold, if any. Talk to a financial advisor about whether gold fits your situation.

Can I buy gold on Robinhood with fractional shares?

Yes. Robinhood allows fractional shares for most ETFs, including gold ETFs. You can invest any dollar amount, even $1, without waiting to save up for a whole share.

Do gold ETFs pay dividends?

Most gold ETFs do not pay dividends because gold itself does not generate income. Some specialized gold ETFs may pay small distributions, but GLD and IAU do not. Your only return comes from the price of gold going up or down.