Metals Pool Account at Kitco??

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Donruss

Hello everyone. I'm looking to put a little money (few thousand $) into metals, i.e. platinum, palladium. I saw on Kitco they have pool accounts where you can buy/sell at any time, not taking any physical ownership of the metals. They state no commisions, fees, etc., save for their own buy/sell. Is this a decent, reliable setup?? I'm not really looking to trade futures. It seems pretty straightforward to me, but I'm not sure if I'm missing anything. Thanks. I'm new here, so sorry if this in the wrong forum!!
 
Quote from Donruss:

Hello everyone. I'm looking to put a little money (few thousand $) into metals, i.e. platinum, palladium. I saw on Kitco they have pool accounts where you can buy/sell at any time, not taking any physical ownership of the metals. They state no commisions, fees, etc., save for their own buy/sell. Is this a decent, reliable setup?? I'm not really looking to trade futures. It seems pretty straightforward to me, but I'm not sure if I'm missing anything. Thanks. I'm new here, so sorry if this in the wrong forum!!
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Its ok.

For gold you will lose a $4 spread in and out.

Kitco pool accounts are not insured, and they dont allocate physical to your account.

If you are planning to take physical at some point, then pool accounts are worthwhile

The fees will add up, use a discount broker, trade gold etfs or futs.
 
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