[burkaman]

The other part of the definition is that it can be easily bought and sold on an exchange. I think if there were an exchange for physical gold then it would be considered a security.

[prottog]

Exchange-traded commodity futures (including those for physical delivery of 100 troy ounces of gold) have existed for a long time and are regulated by the CFTC.

[burkaman]

Right, and those are securities, but gold itself is not a security because it's relatively difficult to trade.

[sebzim4500]

> I think if there were an exchange for physical gold then it would be considered a security.

I don't think that if you were to make an exchange that made it easy to trade physical gold (rather than deriviatives) the SEC would suddenly determine that gold was a security.

[esperent]

There's loads of trading platforms that allow you to buy and sell gold.

https://tradingplatforms.com/commodity/gold-trading/

[burkaman]

But these are all about trading gold-related stocks and ETFs, which are securities, right? It's just the actual metal that isn't.