How to buy silver and gold on Robinhood. Beginner investing in gold bars, coins, stocks, ETFs, and precious metals mutual funds on Robinhood.

Trading Gold and Silver at Robinhood

Whether you are looking for a hedge against inflation, an alternative investment to balance out your portfolio, or a way to jump into the commodities market, investing in gold and silver is an option available to accomplish your goal. Here are the ways to invest in gold and silver if you have a brokerage account with Robinhood.

Silver and Gold ETFs on Robinhood

The first way to invest in gold or silver on Robinhood is through ETF’s. There are many different types of ETF’s that can give you exposure to gold or silver. Some of the different types include ETF’s that hold physical gold or silver, ETF’s that focus on companies that operate in the gold and silver industries, and ETF’s that utilize gold or silver derivatives.


Robinhood Buy Gold


Two examples of the most well-known gold and silver ETF’s are GLD and SLV. They both operate in a similar manner and have similar investment objectives of trying to give investors the closest way possible of investing in gold or silver. They each attempt to track the respective precious metal’s spot price using bullion held in London.


Robinhood Buy Silver


An example of an ETF that focuses on companies that operate in the gold and silver industries is symbol GOAU. This ETF currently holds around 30 different companies that are involved in the mining, production, distribution, and refining of gold. An ETF like this is a good way to have a well-diversified investment in the all-around gold industry and not just directly into gold itself.

ETF’s that utilize gold or silver derivatives can be extremely complex and very risky for the average investor and even for experienced investors. These ETF’s use financial instruments such as options, swaps, and futures in order to achieve their investment objectives.

An important note about these funds is that some of them may be intended to be held for only a day at a time.

An example of an ETF that utilizes silver derivatives is Proshares Ultrashort Silver which is symbol ZSL. This fund essentially tries to perform 2X the inverse of the price of silver each day. So, if silver goes up 3% then this fund actually goes down 6% that day. These types of ETF’s are probably not appropriate for the majority of investors and if you are considering one, you should be very careful to do your due diligence.

Robinhood Promotion


Open Robinhood Account

Gold Stocks on Robinhood

The second way to invest in gold or silver on Robinhood is through companies that operate in the gold and silver industries. There are lots of different aspects to the gold and silver industries, so you have many options for investing in these companies.

Some examples are companies involved in the exploration of gold or silver, the mining of gold or silver, the production of gold or silver, the selling of gold or silver products, the refining of gold or silver, or the purchasing of mining streams or royalties.


Robinhood Buying Gold Stocks


An example of one of the largest gold mining companies in the world is Barrick Gold, symbol GOLD. An example of one of the largest gold and silver exploration companies in the world is Newmont Corporation, symbol NEM. Investing in a gold or silver company may net you either good or bad returns in the long run not just based on the prices of gold or silver but based on the operation of the company itself.

Even if gold or silver is spiking up, you may not see a huge, or any, related impact right away on the price of the company’s stock because the company may be struggling financially and just announced poor future earnings estimates for example. Always consider researching the company itself to analyze whether or not you will be accomplishing your goal of investing in gold or silver through the company.

Robinhood Review and Rating

3-star brokerage firm rating


Buying Gold Through Robinhood Recap

You should keep in mind that no matter what type of gold or silver ETF or company that you invest in, you will ultimately never be investing directly into the price of gold or silver because these types of investments offer only indirect exposure.

You should research each investment in order to figure out the correlation level between the actual prices of gold or silver compared to the price of the ETF or company you are investing in. In other words, if your goal is to make money as soon as possible when silver goes up, then investing in an ETF like SLV may make more sense than investing in a silver mining company.

The good news is that whatever investment you end up going with, Robinhood offers commission-free trades for stocks and ETF’s, so you can always change your investment at no cost if you find one gold or silver investment that works better for you.

Robinhood Promotion


Open Robinhood Account

Author: Paul Johnson. Updated on 3/25/2022.