Gold IRA
Definition
A Gold IRA is a self-directed individual retirement account that holds physical gold, silver, platinum, or palladium instead of stocks or bonds. A specialized custodian administers the account and an IRS-approved depository stores the metals. Gold IRAs follow the same contribution limits and tax rules as traditional or Roth IRAs. The IRS sets strict requirements for which metals qualify, including minimum fineness standards. Opening a Gold IRA typically involves choosing a custodian, funding the account through a rollover or contribution, and selecting approved metals.
Why It Matters for Gold IRA Investors
Understanding what a Gold IRA is helps you decide whether physical metals belong in your retirement portfolio. It also helps you recognize which provider claims are accurate and which overstate what a Gold IRA can do.