They do not charge any sales or custody fees of the gold you purchase as per what they mention on the website. However, you are investing in paper gold. Not real, hard physical gold that is under your name.
The pros is definitely that of convenience. You don't own anything physically, but that's pretty much it.
The cons are many in my opinion. Firstly, they don't charge fees most probably because they have already earned it off the spread. So you are paying a premium over spot price of actual, physical gold which you could have used to get the real thing. Secondly, if you are investing in gold for wealth protection (not just preservation) purposes, holding your gold in the form of paper presents you with counterparty risk, which is what you would want to minimise as much as possible when we are talking about wealth protection.
They do not charge any sales or custody fees of the gold you purchase as per what they mention on the website. However, you are investing in paper gold. Not real, hard physical gold that is under your name.
The pros is definitely that of convenience. You don't own anything physically, but that's pretty much it.
The cons are many in my opinion. Firstly, they don't charge fees most probably because they have already earned it off the spread. So you are paying a premium over spot price of actual, physical gold which you could have used to get the real thing. Secondly, if you are investing in gold for wealth protection (not just preservation) purposes, holding your gold in the form of paper presents you with counterparty risk, which is what you would want to minimise as much as possible when we are talking about wealth protection.