Citywire RIA (October 13, 2022) - ‘You have a best interest standard in the brokerage world. You have a fiduciary standard for RIAs. In precious metals, there is no standard.’
As stocks and bonds continue to struggle, and with a possible recession looming, more investors may seek refuge in precious metals like gold and silver. Investors who want exposure to this asset class have a few options, including ETFs, mutual funds, futures, and raw bullion, like bars and coins. But one of these options is not like the others. Unlike ETFs and mutual funds, which are securities and therefore protected by SEC supervision, the lack of regulatory oversight around precious metals bullion has created a murky but widespread marketplace beset by boiler rooms, scams and abuse.