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How to Buy Gold with Wells Fargo [2024] | Step-by-Step

How to Buy Gold with Wells Fargo
Nemanja Curcic

Summary: Wells Fargo provides no means for investors to buy gold directly, so you have to use a third-party commodity exchange platform to purchase it. Thus, the best way to buy gold with Wells Fargo is via a regulated online brokerage such as eToro.

Best Precious Metals Broker for Intermediate Traders and Investors

  • Invest in Gold, Silver and 3,000+ other assets including stocks and cryptocurrencies.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Can you buy gold with Wells Fargo?

Yes, traders can buy gold with Wells Fargo by relying on the services of online exchange platforms that provide this precious metal. There are two ways you can access gold using Wells Fargo and an exchange platform: by connecting your bank account to the investing platform or by linking a Wells Fargo-issued credit card to the exchange account.

With eToro and other such investing platforms, you do not buy actual gold. Instead, you invest in gold contracts for differences (CFDs). The value of these financial assets is pegged to gold, and any price movements in this commodity will reflect in the change of value of gold CFDs. Apart from the classic long and short positions, CFDs support the use of leverage.

How to buy gold with Wells Fargo?

The best way to buy gold with Wells Fargo is to use the services of a regulated online brokerage such as eToro. Servicing a community of over 30 million investors, eToro boils down the investing procedure to a single click or tap on your mobile or desktop device. 

Additionally, it provides over 3,000 various investment assets to all investor types, along with features such as staking, hodling, and market analysis.

How to Buy Gold with Wells Fargo: eToro banner.
eToro investment platform. Source: eToro.com

So, without further ado, let’s get to the details of buying gold with Wells Fargo using eToro step-by-step.

Supported Credit/Debit cards on eToro: Visa, MasterCard, Visa Electron and Maestro. For more information click here.

How to buy gold with Wells Fargo: Step-by-step

Option 1: You can invest in gold quickly, securely, and fast by using your Wells Fargo bank account with these six steps:

  • Step 1: Create an account on eToro and perform the verification process (personal or company);
  • Step 2: Declare the amount of money to transfer to your account;
  • Step 3: Connect the Wells Fargo bank account with your eToro account;
  • Step 4: Choose gold from the commodities list and type in the amount you wish to purchase;
  • Step 5: Review the stop loss, leverage, and take profit settings;
  • Step 6: Conclude the trade.

Option 2: There is also the option to use a credit card issued by Wells Fargo to buy gold. Most online exchanges (eToro included) support credit cards as they are safe and simple to use. The process is similar:

  • Step 1: Create an account on eToro and verify it;
  • Step 2: Specify the amount of cash to deposit;
  • Step 3: Connect your Wells Fargo-issued credit card to eToro;
  • Step 4: The remaining process is the same as with the first option.

Disclaimer: 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is not intended for US users. eToro USA LLC does not offer CFDs, only real Crypto assets, Stocks and ETFs are available. 

Best Precious Metals Broker for Intermediate Traders and Investors

  • Invest in Gold, Silver and 3,000+ other assets including stocks and cryptocurrencies.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Gold price today

About Wells Fargo

Wells Fargo (NYSE: WFC) is one of the largest banks in the United States. As it is the third largest by market cap and the fourth largest by total assets, Wells Fargo is among the ‘Big Four’ American banks.

Centered in San Francisco, California, Wells Fargo provides banking services and products to about 66 million users across its network of over 8,000 branches and 13,000 ATMs throughout the US. 

How to Buy Gold with Wells Fargo: Wells Fargo homepage screenshot.
Wells Fargo’s homepage. Source: Wellsfargo.com

Best ways to invest in gold

Owning actual gold has several downsides, including the obligation to hold it securely and the hassle of trading it in physical form. Instead, more convenient ways allow you to speculate on the price of gold without storing it yourself. The best ways to invest in gold and gold-related assets are:

  • Contracts for difference (CFDs): CFDs are financial instruments with a proportional relationship to the current price of gold. When you invest in CFs, you gain access to gold price speculations without the associated issues of physically owning the precious metal;
  • Exchange-traded funds (ETF): While CFDs represent the active side of gold investing, ETFs that track gold as a commodity stand for the more passive approach. These assets will passively track and match the performance of gold as a trading commodity;
  • Gold-related stocks: Buying stocks in gold-related companies (e.g., gold-mining corporations) is an indirect way to invest in gold. The worth of these stocks tends to shift together with the price of gold.

Common mistakes to avoid when investing in gold

Gold investments have traditionally served to diversify portfolios and act as a hedge against inflation. Buying gold with Wells Fargo will make you safer in case of a recession and a general downturn in the prices of other assets. 

Investing in gold, however, isn’t 100% safe or guaranteed. To minimize risk, avoid these common mistakes:

  • Failing to diversify: To avoid disastrous losses and manage investment risk, make sure to diversify your portfolio. Rather than investing everything in gold or silver, consider adding bonds, stocks, cryptocurrency, and real estate to your precious metal assets. This will make your portfolio more resistant to market volatility;
  • Trying to time the market: No one can reliably predict the flow of the market, so trying to time it to your advantage can lead to financial failures. Instead of impulsive, short-term decisions, consider a long-term approach. For example, dollar-cost averaging is less susceptible to market volatility than instantly purchasing  assets;
  • Failing to research the asset: When investing, it is crucial to learn everything about the asset you are putting your money in. Otherwise, undesirable factors can negatively affect your financial goals. Make sure to track the fundamentals of the commodity before you invest;
  • Overusing leverage: Leverage is a high-risk investing feature that can quickly provide returns, but it can also deprive you of your principal in seconds. While it looks attractive, overusing it or going in without sufficient experience can have dire consequences;
  • Falling for scams: Offers that seem too good to be real usually have issues in disguise. Take care not to fall for inflated prices and fake goods. Read the Commodity Futures Trading Commission (CFTC)’s guidelines to find out more about how to evade fraud;
  • Using shady platforms: To avoid unnecessary risk, always choose regulated platforms and licensed brokerages as your investing services. Consult with the authorities whether your preferred platform is among reliable exchanges.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy gold with Wells Fargo:

Can I buy gold with Wells Fargo?

Yes, you can buy gold with Wells Fargo by linking your credit card or bank account to a multi-asset investment platform such as eToro.

How to buy gold with Wells Fargo?

You can buy gold with Wells Fargo by using its account (or credit card) as a deposit for an investment service that offers gold, such as eToro.

Is buying gold with Wells Fargo safe?

Buying gold with Wells Fargo is safe if you use regulated investment platforms and follow the guidelines above.

How to buy gold?

You can invest in gold by buying gold CFDs, investing in gold ETFs, and purchasing stocks in gold-related businesses like mining companies. These don’t require traders to own the gold but still provide them access to gold price speculations.

Is gold a good investment?

This depends on your investor profile, risk tolerance, financial goals, and portfolio. Gold investment usually serves as a hedge against inflation and security against recessions. Make sure to diversify your portfolio.

Best Precious Metals Broker for Intermediate Traders and Investors

  • Invest in Gold, Silver and 3,000+ other assets including stocks and cryptocurrencies.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

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