If you have already left the job, you could roll over your 401k to an IRA with a discount broker like TradeKing and then buy shares of the GLD ETF, an ETF which tracks the price of gold bullion. If you?re still in the same job then you?re stuck with your current employer?s fund choices.
Honestly though I would not recommend gold as a long term investment. The statistics that I?ve seen show it barely beating inflation over the long term. As always, equity funds are your best bet, like a Vanguard Index fund.
Source: http://rothira.solve-up.com/roth-ira/is-there-a-way-to-pull-a-401k-and-invest-it-in-gold/
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