Are 1-ounce gold bars a good investment in 2024? (2024)

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MoneyWatch: Managing Your Money

Are 1-ounce gold bars a good investment in 2024? (2)

Given how quickly the investment landscape can shift, investors are constantly seeking ways to diversify their portfolios and safeguard their wealth against economic uncertainties. Otherwise, they would leave themselves open to serious vulnerabilities within their portfolios — the type that can have a big, and negative, impact on the value of their investments.

And, one avenue that has perennially captured the imagination of investors is precious metals, with gold being a standout choice. Part of the allure is that gold has long been revered as a safe-haven asset, appreciated for its intrinsic value and ability to preserve wealth. And, throughout history, gold has weathered economic downturns, geopolitical tensions and currency fluctuations, emerging as a reliable store of value. That's a large part of why, in times of uncertainty, investors will turn to gold to mitigate risk and provide stability to their portfolios.

There are numerous types of gold investments to choose from, too — from gold bars and coins to gold stocks, gold ETFs and gold IRAs. But 1-ounce gold bars in particular have gained popularity for their accessibility and versatility — and these days, even Costco sells 1-ounce gold bars to its members. Are 1-ounce gold bars still a sound investment choice in 2024, though? Let's find out.

Ready to start investing in gold? Compare your top investing options online here.

Are 1-ounce gold bars a good investment in 2024?

In general, 1-ounce gold bars hold a unique position in the realm of gold investments. And, there are a few reasons it could make sense to invest in 1-ounce gold bars this year, including:

Liquidity and accessibility

One of the key advantages of 1-ounce gold bars is that they're highly liquid. As a standard unit, these bars are easily tradable on various financial markets. Investors can buy and sell 1-ounce gold bars with relative ease, providing a level of liquidity that larger gold bars or other forms of gold may not offer.

And 1-ounce gold bars are accessible to a broader range of investors due to their lower price point compared to other options. For example, larger gold bars may require significant capital outlays, but 1-ounce bars allow investors with varying budget sizes to participate in gold investments. This accessibility democratizes gold ownership, making it inclusive for a diverse set of investors.

Find out more about how you can get started with gold investing here.

Inflation and economic uncertainty

As we navigate the economic landscape of 2024, concerns about inflation and global uncertainties are at the forefront — and for good reason. While it appeared in late 2023 that the inflation issues had been somewhat tempered by the Federal Reserve's rate hikes, the most recent report showed a slight uptick in the inflation rate. And, while that could be an anomaly, it may not be — so there are uncertainties to consider with the current economic state.

But gold, including 1-ounce gold bars, has traditionally served as a hedge against inflation, so it can be a smart investment in 2024. The precious metal tends to retain its value or appreciate during periods of rising inflation, acting as a counterbalance to the eroding purchasing power of regular currencies.

Moreover, in times of economic turmoil or geopolitical unrest, gold tends to shine as a safe-haven asset. The inherent stability and universal acceptance of gold make 1-ounce bars an attractive option for investors seeking refuge from market volatility.

Storage and portability

The practicality of storing and transporting 1-ounce gold bars also contributes to the popularity of this type of gold asset. Unlike larger gold bars that may require specialized storage facilities, 1-ounce bars can be stored in smaller, more secure spaces such as safe deposit boxes. Their compact size also makes them easily transportable, allowing investors to move their wealth as needed.

Risks and considerations when investing in 1-ounce gold bars

While 1-ounce gold bars present compelling advantages, it's essential to also be aware of the potential risks that come with this type of investing. While gold tends to retain its value over time — and while the price of gold has historically increased — like any investment, the value of gold can fluctuate, influenced by market forces, economic conditions and geopolitical events.

Additionally, the transaction costs and premiums associated with buying and selling gold should be taken into account to ensure that it's the right move for your portfolio. Unlike other types of investment assets, like traditional stocks or ETFs, you'll need to contend with expenses like storage or insurance when purchasing 1-ounce gold bars, which can increase the cost of investing in this precious metal.

Furthermore, the opportunity cost of investing in gold should be weighed against other investment options. In a diverse portfolio, gold can play a valuable role, but it's crucial to consider individual financial goals, risk tolerance and the overall investment strategy before making any decisions.

The bottom line

As we close out the first month of 2024, 1-ounce gold bars continue to be a viable and attractive option for investors looking to enhance their portfolios. The historical resilience of gold, coupled with the practical advantages of 1-ounce bars, makes them a versatile choice in an ever-changing economic landscape. Whether as a hedge against inflation, a safe-haven asset during uncertain times or a component of a diversified portfolio, 1-ounce gold bars offer investors a tangible and accessible pathway to a store of value.

Angelica Leicht

Angelica Leicht is senior editor for CBS' Moneywatch: Managing Your Money, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications.

Are 1-ounce gold bars a good investment in 2024? (2024)


Are 1-ounce gold bars a good investment in 2024? ›

The short answer is yes, in many cases, it can pay to buy gold bars. These gold assets tend to hold their value well and have historically increased in value over time. And, they offer lots of other unique benefits to investors, too.

How much is a gold bar worth in 2024? ›

One ounce of gold is worth $2,337 as of May 10, 2024.

A single troy ounce is equivalent to 31.103 grams (0.0311 kilograms) and roughly 0.0686 lbs. This means that a 1 oz gold bar costs $2,337, or precisely the equivalent of gold's spot price.

Is gold a good investment in 2024? ›

The Bottom Line

While opinions vary, it's clear that gold remains a significant investment consideration for many investors in 2024. Whether gold prices continue to soar or experience a correction will likely depend on factors such as geopolitical tensions, central bank policies, and the overall economic landscape.

Is 1 oz of gold a good investment? ›

Unlike larger gold bullion products, which can be difficult (and often expensive) to store, 1-ounce gold bars are easy to transport and can be readily sold and converted to cash if needed. This makes them an attractive option for investors who value flexibility and accessibility.

Will gold bars increase in value? ›

The intrinsic value of gold never rises or falls. An ounce of gold or a gold sovereign will always be worth something because buying this precious metal means holding a form of money that has been a store of value for thousands of years.

What is the expected price of gold in 2024? ›

The IMF expected an average gold price of $1,775 per ounce in 2024, based on global economic activity, inflation expectations, and financial market conditions. Other Goldman Sachs and JPMorgan Chase & Co. also stated the expected gold price can be $2,133 and $2,175 per ounce in 2024.

How much will an ounce of gold be worth in 5 years? ›

As of December 19, 2023, the spot price of gold was $2,024 per ounce. Considering an annual growth rate of 11.2%, an ounce of gold could be worth about $2,251 in one year. In five years, an ounce of gold could be worth about $3,441, provided that the value continues to grow at a rate of 11.2%.

When should I buy gold in 2024? ›

Diwali/Dhanteras - 29 October 2024 and 1 November 2024

People believe that buying gold on this day brings good luck and helps to ward off financial difficulties. It is also a time for investing in gold, as it is considered to be a symbol of wealth and financial stability.

Is gold about to skyrocket? ›

The price of gold will rise

According to a report from JPMorgan, gold prices should rise steadily quarter-over-quarter until peaking in the back half of 2025.

How high will gold go in 5 years? ›

Most analysts have a Gold price forecast for 2025 of well over $3000 an ounce. Considering that the market reached the $2000 an ounce price in March of 2023 alone, it seems there is a lot of momentum.

Is it better to buy 1 oz gold bar or coin? ›

Because of the design and the manufacturing costs to mint the coins, gold coins carry a slightly higher premium compared to their same unit size as gold bars. Therefore from an investment perspective, buying gold coins means that you will get less gold for what you pay.

Can gold hit $4000 an ounce? ›

Gold is now trading at record highs —and it could hit $4,000 per ounce or more. I highlighted gold's powerful bullish reversal from $1,811-per-ounce support in the Oct. 17 issue of the Institutional View. By hurdling $1,940 without breaking below $1,900, my work generated a Buy signal for the precious mental.

How many ounces of gold can you legally own? ›

Today, there are no specific limits on how much gold a person can own in the U.S. Whether it's bullion, coins, or jewelry, you can buy, own, and possess as much gold as you like. The only restrictions may come from reporting requirements if you simultaneously buy or sell large amounts of gold.

Is it difficult to sell gold bars? ›

The weight of your gold bar directly impacts its price and ease of sale. Smaller bars like 1-ounce options offer affordability and easier trade, while larger bars such as the 400-ounce ones are more often held by large investors and institutions due to their substantial value and lower premium over spot price.

Is it wise to buy gold bars? ›

Are Gold Bars a Good Investment? During times of financial uncertainty, gold provides you with a sense of financial security that other investments can't. Unlike stocks and bonds, gold tends to appreciate amid economic tensions and turmoil, such as inflation or currency crises.

What are the disadvantages of buying gold bars? ›

8 Cons of Investing in Gold
  • Costs of securing gold. ...
  • Investment costs. ...
  • Underestimated volatility. ...
  • No income stream. ...
  • Purity considerations. ...
  • Opportunity costs.
Aug 18, 2023

What is the gold price prediction for 2025? ›

Gold's price forecast for 2025 at the Bloomberg Terminal is between $1,709.47 and $2,727.94. Bloomberg Intelligence Strategist Mike McGlone predicts that both gold and its “digital version,” bitcoin, will appreciate by 2025.

Will gold hit $3,000 an ounce? ›

"We project $3,000/oz gold over the next 6-18m," said Citi's analysts led by Aakash Doshi, Citi's North America head of commodities research. The financial gold "price floor" has also moved higher from around $1,000 to $2,000 per ounce, Citi said.

How much will gold be worth in 10 years? ›

Vijay Marolia, money manager and managing partner at Regal Point Capital, expects the price of gold to be "at least" $3,000 an ounce in 10 years (the price of gold today is around $2,000 an ounce).

How much is gold going up in the last 5 years? ›

Over the past five years, the price of gold has appreciated approximately 36% while the total return of the S&P 500 has been 60%.

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