Trading Gold and Oil Commodities on the NYSE
Just an FYI. You want to trade directly on the price of oil and gold directly, but do not want to open a margin account and start trading on the NYMEX. Investing in gold miners or oil drillers is not quite the same thing. Well, here is how.
Gold: IAU, GLD. These directly hold bullion, and the price of the stock is directly related to the price per troy oz of gold. True, you are paying a slightly higher admin fee from storage and insurance costs. Still, the price tracks the spot price of gold.
Oil: OIL, USO, USL. These directly hold oil options contracts. The price of the stock is directly related to the forward month contract of oil per bbl.