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Should you hold gold in a RRIF?

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Ask MoneySense
I have a RRIF (registered retirement income fund) and I am looking to shift it to gold. I am 65 years old. Is this safe and does this make sense?

—Audrey

Investing in gold for retirement in Canada

Gold prices have surged recently, rising 26% over the past year. Silver has also had a good run, up 24% over the same period. Mind you, for perspective, the S&P 500 has a total return including dividends of 20% over the past year as well.

Can you hold gold in a registered account?

Gold is considered a qualified investment for registered accounts in Canada, Audrey. This means you can hold gold in a registered retirement savings plan (RRSP) or registered retirement income fund (RRIF).

However, gold and silver bullion coins, bars and certificates are subject to conditions. For example, gold coins must be at least 99.5% pure, while silver coins must be at least 99.9% pure. Coins cannot have a collectible value, so the fair market value cannot exceed 110% of the value of its gold or silver content…

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