A Gold IRA is a self-directed retirement account that enables investors to include physical precious metals in their long-term savings. Unlike traditional IRAs, which typically contain stocks, bonds, or mutual funds, a Gold IRA can include gold, silver, platinum, and palladium that meet IRS purity standards. This account structure offers a way to diversify retirement savings outside of conventional financial assets.
The tax treatment of Gold IRAs is similar to that of conventional IRAs. Account holders may select either a traditional Gold IRA with tax-deferred growth or a Roth Gold IRA that provides tax-free retirement withdrawals. What Is a Gold IRA and How Does It Work? . The key difference lies not in tax treatment, but in the types of assets held within the account.
Opening a Gold IRA involves partnering with an IRS-approved self-directed IRA custodian. Custodians manage account operations, maintain records, and ensure regulatory compliance. Investors purchase IRS-approved metals through a metals dealer, with assets stored in an approved depository offering security and insurance.
Because IRS rules prohibit personal storage, metals must remain in an approved facility until distribution. This ensures transparency, security, and compliance. Many investors use Gold IRAs to pursue long-term stability, hedge against inflation, and diversify retirement savings.