Buying Gold Through Robinhood's Precious Metals Program

Robinhood lets you buy physical gold through its Robinhood Gold program, which is separate from the app's regular stock and crypto trading. You purchase fractional amounts of gold bars stored in Robinhood's vaults, and you own the metal outright — you don't receive the physical bars at home. The minimum purchase is $1, and you can buy or sell during market hours.

The process is straightforward: open the Robinhood app, navigate to the Precious Metals section, select gold, choose your amount, and confirm the purchase. Your gold sits in allocated storage, meaning your specific bars are held separately and insured. Robinhood charges a storage and insurance fee, which varies but is typically around 0.75% annually on the value of your holdings.

Key Takeaways

  • Gold purchases on Robinhood are stored in vaults, not shipped to your home, and you can buy fractional amounts starting at $1.
  • You own the metal outright and can sell it back to Robinhood during market hours at the current spot price.
  • Robinhood charges an annual storage and insurance fee on your gold holdings, which reduces your overall return.
  • Gold trades during standard market hours, so you cannot buy or sell outside those times or on weekends and holidays.

Setting Up Your Account for Precious Metals Trading

Before you can buy gold, your Robinhood account must be set up to trade precious metals. This is not automatic — you need to enable it in your account settings. Open the app, go to your Account menu, and look for the Precious Metals section. Robinhood will ask you to review and agree to the terms, which cover storage, insurance, and the fee structure.

You do not need a separate account or additional paperwork beyond what you already completed to open your Robinhood account. Once you enable precious metals trading, the option appears in your main app navigation. If you cannot find it, check that your account is fully verified and that you are in a state where Robinhood offers this service — it is not yet available everywhere.

How the Purchase Process Works Step by Step

Open Robinhood and tap the Precious Metals icon or search for "Gold" in the app. You will see the current spot price of gold per ounce. Tap "Buy" and enter the dollar amount you want to spend — the app will show you how many ounces or fractions of an ounce that represents at the current price. Review the total, including any fees, and confirm the purchase.

Your gold purchase settles when ready during market hours. The metal is allocated to your account and stored in Robinhood's insured vault. You receive a confirmation in the app showing your holdings, the purchase price, and the current value. You can view your gold balance anytime in the Precious Metals section of your account.

Understanding Storage, Insurance, and Fees

When you buy gold on Robinhood, you are paying for storage and insurance as part of the service. Robinhood holds your metal in professional vaults and insures it against loss or theft. The annual fee is charged as a percentage of your holdings and is deducted from your account — you do not pay it separately. The exact rate depends on the amount you hold and can change, so check your account settings for the current fee.

This fee structure means your gold does not sit cost-free. If gold prices stay flat, the storage fee reduces your return. However, you avoid the costs of buying physical gold yourself, such as dealer markups, shipping, and home storage or safety deposit box fees. For small holdings, Robinhood's model is often cheaper than buying bars or coins from a dealer.

Selling Your Gold and Withdrawing Cash

To sell your gold, open the Precious Metals section, tap your gold holding, and select "Sell." Enter the amount you want to sell or tap "Sell All" to close the position entirely. Robinhood shows you the current spot price and calculates how much cash you will receive. Confirm the sale, and the transaction settles when ready during market hours.

The cash from your sale goes directly into your Robinhood account balance. You can then transfer it to your linked bank account using Robinhood's standard withdrawal process, which typically takes one to three business days. There is no separate step to "withdraw" your gold — selling converts it to cash, which you can then move out of Robinhood.

Trading Hours and Price Updates

Gold trades on Robinhood during standard market hours: Monday through Friday, 9:30 a.m. to 4:00 p.m. Eastern Time. You cannot buy or sell gold outside these hours, on weekends, or on market holidays. The price you see in the app updates throughout the trading day and reflects the spot price of gold in real time.

If you place an order after market close, it will not execute until the market reopens. This is different from holding gold futures or ETFs, which trade extended hours on some platforms. For Robinhood's physical gold program, you are limited to standard market hours only.

Comparing Robinhood Gold to Other Ways to Own Gold

Robinhood's precious metals program is one of several ways to own gold. Gold ETFs like GLD or IAU trade like stocks and do not require storage fees — you own a share of a fund that holds gold. Gold futures are contracts that track the price but do not give you ownership of physical metal. Physical gold coins or bars from a dealer give you metal in hand but come with dealer markups and storage costs.

Robinhood's model sits in the middle: you own allocated physical gold without taking possession, and you pay storage fees instead of dealer markups. It works well if you want actual metal ownership without the hassle of storing it yourself, and if you plan to hold for a while so the annual fee is not a large percentage of your return. For short-term trading or very small amounts, a gold ETF might be cheaper.

Frequently Asked Questions

Can I take physical delivery of my gold from Robinhood?

No, Robinhood does not offer physical delivery. Your gold stays in their vault. If you want the metal in your hands, you would need to sell your gold on Robinhood and buy physical bars or coins from a dealer separately.

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

Your gold is insured and held in allocated storage, meaning it is segregated from Robinhood's assets. Even if Robinhood faced financial trouble, your metal would be protected. The insurance and vault arrangement are designed to protect your holdings independently of the company's status.

Is there a minimum or maximum amount I can hold?

The minimum purchase is $1, so you can start very small. There is no stated maximum, though very large holdings may be subject to different terms. Check your account or contact Robinhood support if you plan to hold more than a certain amount.

Do I pay taxes on gold I hold on Robinhood?

Gold is treated as a collectible for tax purposes, which means capital gains are taxed at a higher rate than stocks in some cases. You owe taxes only when you sell and realize a gain. Robinhood provides tax documents at year-end to help you report your transactions, but you should consult a tax professional about your specific situation.

Can I buy gold on Robinhood if I have a retirement account?

Precious metals trading is available on standard Robinhood accounts. Robinhood does not currently offer precious metals through retirement accounts like IRAs, so you cannot hold gold in a tax-advantaged retirement account through the platform.