The Fidelity Select Gold Portfolio fund falls under Morningstar's precious metals category. Funds in this category often invest in stocks related to gold and other precious metals, which may include companies that mine, explore, trade or process these precious metals. Fidelity Management %26 Research invests assets primarily in companies engaged in the exploration, extraction, processing or trading of gold, or to a lesser degree, silver, platinum, diamonds or other precious metals and minerals. Maverick is an active trader, commodity futures broker and stock analyst with more than 17 years of experience, plus more than 10 years of experience as a financial writer and book editor.
The fund can invest up to 40% of its assets in stocks of emerging market countries and up to 25% of its assets in metal-related debt securities. All dividends or capital gains are distributed annually. Fidelity Investments established the Fidelity Select Gold Portfolio Fund (FSAGX) in 1985.The main purpose of this precious metals fund is to provide investors with capital appreciation. The Invesco Gold and Special Minerals Fund (OPGSX), founded in 1983, seeks long-term capital appreciation.
Major holdings include Barrick, Northern Star Resources, Newmont and Evolution Mining. Gold makes up the bulk of the portfolio with 75% of assets. The Gabelli Gold Fund, Inc. Victory Capital.
USAA Precious Metals and Minerals Fund. Unfortunately, Fidelity does not currently offer a self-directed gold IRA. However, the company has several other options for investor retirement plans. With the global economy struggling with lockdowns, scarcity, wars and inflation, uncertainty has never been higher and investors protect themselves by placing physical gold in IRAs.
Also, if you're looking for ways to invest in gold, but don't want to buy physical gold or buy Fidelity products, read on. This makes it a good option for investors who want to buy gold but don't feel comfortable buying physical metals. With most physical metals traders, investors must pay a substantial premium on the spot price of gold to buy coins or bullion. Security is all about knowing the economic dangers and taking steps to secure your financial future, and it's easy to do with a Gold IRA.
Fidelity Select Gold Portfolio (FSAGX) allocates more than half of its assets to gold, while Fidelity Advisor Gold Fund (FSHAX) invests more than one-third of its assets in gold. Fidelity also offers some ETFs that invest in gold and silver miners, providing exposure to the metals market without having to buy physical gold. This can be beneficial if you want to invest in gold and don't feel comfortable buying physical metals.
