7 Gold IRA scams and red flags you can spot in 5 minutes

Investors have flocked to gold IRAs to diversify their retirement savings as the asset soared well above $5,000 an ounce — but with that surge in popularity comes a wave of bad actors who have no business touching anyone’s retirement savings.

Demand for gold hit record highs last year as anxious investors sought out the physical asset as a hedge against inflation and economic uncertainty.

As of early March 2026, gold futures are more than $5,100 an ounce — up roughly 74% in a single year — with spot prices touching highs near $5,589 in late January.

More Americans have been turning to the investment vehicles, which work similarly to regular IRAs, to take advantage of those gains — but that also means there’s been an influx of scams in the area.

Established dealers like Thor Metals Group, which specializes in precious-metal IRAs, have seen a surge in demand as investors seek vetted partners to guide them through the process.

The Commodity Futures Trading Commission has launched a joint effort with nonprofits devoted to investor protection, issuing formal advisories warning retirees about gold and silver schemes designed to drain retirement accounts. Enforcement actions have cost investors hundreds of millions of dollars in the past decade.