EDIT: Also wandering whether buying and holding the Gold commodity in the CFD account is a good idea or not
I’m not being lazy, I’m definitely googling the answer, but if anyone already understands gold well, maybe they can condense the answer better, and at least we can have a discussion here
-A family member is seriously considering allocating part of their money into gold; not for trading or necessarily to make money, but rather safekeeping. They are a bit scared of a looming economic crash and have a growing distrust towards banks in general, the possibility of big inflation, or the collapse of the Euro (their money is in euros).
From an Invest account, which of the instruments would be best suited for this? I see Wisdomtree, Invesco, iShares all have ETCs and there’s a Xetra ETF. Are these derivatives or do you actually own gold when you buy the ETC. How does it work?
I think the actual commodity is only available on the CFD account.
Thanks and I realise Im really ignorant on the subject