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How To Invest in Gold and Silver on Wells Fargo (2021)


Can I trade precious metals, silver and gold commodities, bullion, gold ETFs and precious metals mutual funds on Wells Fargo? How to buy gold on Wellstrade in 2021?



How to Invest in Gold and Silver at WellsTrade


Although WellsTrade only offers investing in securities, there are nevertheless several ways to tap into the precious metals market with a brokerage account at this firm. Keep reading—we’ll show you how.


Precious Metals Mutual Funds


Using WellsTrade’s mutual fund screener (found under the Research tab on its website) we located several mutual funds whose portfolios are composed of securities and/or futures contracts that are connected to the precious metals space.

One example is EKWAX, the Wells Fargo Precious Metals Fund. It invests in several mining stocks. These are companies that dig metals out of the ground for a living, and their stock prices are closely related to the prices of these metals.

EKWAX owns shares of Newmont Corp, Barrick Gold Corp, Gold Fields Ltd, Kirkland Lake Gold Ltd, and several other prominent mining companies.

According to WellsTrade’s profile on EKWAX, the fund has an overall Morningstar rating of 4 stars. It is currently open to new investors and has an initial minimum investment of $1,000 in a taxable account. While it has no transaction fee, it does have a 5.75% front-end load.


Precious Metals ETFs


If you would rather invest in a fund without a load, you could look at some precious metals ETFs. WellsTrade offers every US-listed ETF, so these will be super easy to find. Just open the broker’s ETF screener (also found under the Research tab) and select Advanced Screener on the screener’s front page. On the next screen, you’ll find more search variables, one of which is sector. In the drop-down menu, select Commodities Precious Metals.


Wells Fargo Buy Gold


When we did just that, we got a list of 20 ETFs. One of these is GLD, the very famous SPDR Gold Shares fund. This ETF charges a very low 0.40% annual management fee with a very impressive average volume of 9 million shares traded daily. This activity gives it a very tight bid-ask spread, which makes it even cheaper to buy and sell.

Another ETF we found using WellsTrade’s screener is SLV. Instead of investing solely in gold, this fund invests completely in silver. Its expense ratio is a little higher (50 basis points), but its average volume is also higher (26 million shares per day).

Both GLD and SLV have above-average ratings from Morningstar.


Precious Metals Stocks


If you’re a little more ambitious, you could invest in a single stock. Doing so will come with a little more risk (a single stock could go to $0, but a fund full of gold or silver will not). However, GLD and SLV don’t pay dividends, whereas some mining stocks do.

One we found at WellsTrade is Kinross Gold Corporation. Trading on the New York Stock Exchange under the symbol KGC, this stock pays a quarterly dividend of 12¢, which translates into a dividend yield of about 1.6%. Kinross’s earnings have beat analyst forecasts in recent quarters. And like the ETFs mentioned above, this stock has zero commissions when traded at WellsTrade.