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How to invest in gold from Australia

Compare gold dealers, gold stocks and online brokers to get the best deal on gold.

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By

Tim Falk

&

Kylie Purcell

Updated

Fact checked

Gold has been seen as a reliable store of value since ancient times, acting as a form of currency well before money as we know it today existed.

Skip forward a few thousand years and today gold is considered a stable investment that can be a hedge against inflation. And it's this very quality that is exciting investors in 2023. With inflation looking like it will hang around, the price of gold is tipped to soar.

Saxo's head of commodity strategy Ole Hansen is even predicting the price of gold could reach $US3,000.

"2023 is the year that the market finally discovers that inflation is set to remain ablaze for the foreseeable future," Hansen said. "Under-owned gold rips higher on the sea-change reset in forward real interest rate implications of this new backdrop," he added.

If you're looking to invest in gold in Australia, you have 4 main options:

  • Buy physical gold bullion
  • Invest in gold stocks
  • Buy gold exchange-traded funds (ETFs)
  • Trade gold via the futures market

Investing in gold on the stock market

It's possible to invest in gold through the stock market by profiting from gold prices rather than physically owning gold.

This is done by buying shares in companies that have exposure to gold, including gold miners. This can be done through individual shares or you can buy units in a gold-themed ETF.

With this approach, you don't actually buy any gold – rather you're investing in the performance of the gold industry or the mining company. To invest in gold via the stock market, you need a stockbroker or online trading platform.

But remember, you own part of a business (or multiple businesses in the case of an ETF).

This means investors have an extra layer of complexity. Not only do you need to know the price of the asset, but also at what price the business can produce the raw material and be profitable. It is after all possible for the gold price to increase while the business you own loses money.

However, the flip side is also true. If your investment mines additional minerals, it could reduce your risk should the gold price fall.

Just like you have car insurance in case of an accident, you can also have portfolio insurance before market volatility hits. The world still values physical gold, so it is often used as protection if stock markets sour, or interest rates rise. To take a lot of the guess work out of investing in the precious metal, a physical gold ETF can provide you with easy access to the commodity rather than having to pick a winning gold miner or take the risk of holding physical bars of gold yourself.

Kanish Chugh

Kanish Chugh
Head Of Distribution, Global X ETFs AU

ASX-listed gold stocks

There are a number of gold stocks and ETFs listed in Australia. Some of the largest and best-known gold stocks include the following:

The following are some gold-themed ETFs listed on the Australian Securities Exchange:

While physical gold is sometimes pegged as a "safer" investment option, gold stocks or ETFs expose you to all the usual risks that the stock market carries. This includes market volatility, company bankruptcy and the possibility of losing your investment.

When you buy units in a gold-themed ETF, you're tracking the price movements of the commodity itself or stocks in multiple companies with gold exposure – read our comprehensive ETF guide for information.

Compare online brokers to trade gold stocks, ETFs and CFDs

1 - 5 of 5
Updated regularly
Name Product Price per trade Inactivity fee Asset Class International
CMC Markets Invest
Finder Award
CMC Markets Invest
$0
$0
ASX shares, Global shares, Options trading, US shares, mFunds, ETFs
Yes
$0 brokerage on global shares including US, UK and Japan markets.
Trade up to 35,000 products, including shares, ETFs and managed funds, plus access up to 15 major global and Australian stock exchanges. Plus, buy Aussie shares for $0 brokerage up to $1,000. (Limited to one buy order per stock per trading day).
Go to site
More Info
eToro
Finder AwardExclusive
eToro
$0
US$10 per month if there’s been no log-in for 12 months
ASX shares, Global shares, US shares, ETFs
Yes
Exclusive: Get 12 months of investment tracking app Delta PRO for free when you fund your eToro account (T&Cs apply).
CFD service. Capital at risk.
Join the world’s biggest social trading network when you trade stocks, commodities and currencies from the one account.
Go to site
More Info
Tiger Brokers
Exclusive
Tiger Brokers
US$1.99
$0
ASX shares, Global shares, US shares, ETFs
Yes
Finder exclusive: New customers get US$25 of Tesla stock plus US$50 fractional shares when they deposit $500 (net) into their account (T&Cs apply).
Get 1 zero-commission trade per month on ASX or US stocks until Sept 12, 2023. T&Cs apply.
Go to site
More Info
Selfwealth (Basic account)
Selfwealth (Basic account)
$9.50
$0
ASX shares, Global shares, US shares, ETFs, Bonds
Yes
Limited time offer: Pay US$2 to trade US stocks with a minimum investment of just US$25 until August 2023.
Invest in Australian CHESS-sponsored shares at a low cost. Get live chat support and insights from other investors to benchmark your portfolio's performance.
Go to site
More Info
IG Share Trading
Finder Award
IG Share Trading
US$0
$0
ASX shares, Global shares, US shares, UK shares, ETFs
Yes
$0 brokerage for US and global shares plus get an active trader discount of $5 commission on Australian shares.
Enjoy some of the lowest brokerage fees on the market when trading Australian and international shares, plus get access to 24-hour customer support.
Go to site
More Info
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Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Disclaimer: General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.
1 - 9 of 9
Updated regularly
Name Product Minimum Opening Deposit Minimum Opening Deposit Commission - ASX 200 Shares Available CFD markets Platforms
Pepperstone CFD
Pepperstone CFD
$0
$0
$5 or 0.07%
Australian Stocks, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices (CFDs only)
MetaTrader 4
MetaTrader 5
cTrader
TradingView
Disclaimer: CFD Service. Your capital is at risk.
Get access to more than 60+ forex and CFD markets when you sign up with this award-winning Australian broker. Plus, access the new advanced TradingView charts platform.
Go to site
More Info
Vantage CFD
Vantage CFD
$50
$50
No commission
Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices (CFDs only)
MetaTrader 4
MetaTrader 5
TradingView
Disclaimer: CFD Service. Your capital is at risk.
Vantage has some of the lowest CFD trading fees in Australia including $0 commissions on all Gold trades. Plus you can find global trends and place trades through the new TradingView charts platform.
Go to site
More Info
IG CFD broker
IG CFD broker
$0
$0
0.08% with $7 minimum
Bonds, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Options (CFDs only)
MetaTrader 4
ProReal Time
IG Trading Platform and Apps
L2
Disclaimer: CFD Service. Your capital is at risk.
Trade from over 15,000 markets with Australia's leading service for CFD trading and forex.
Go to site
More Info
eToro CFD
eToro CFD
US$50
US$50
No commission
Forex, Shares, Indices, Cryptocurrencies, Commodities, ETFs
eToro Trading Platform
Disclaimer: CFD Service. Your capital is at risk.
Join the largest social trading network in the world.
Go to site
More Info
Plus500 CFD
Plus500 CFD
$200
$200
No commission
Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Options (CFDs only)
Plus500 Trading Platform
Disclaimer: CFD Service. Your capital is at risk.
Trade CFDs on Australian and International shares, indices, cryptocurrencies, commodities and more.
Go to site
More Info
IC Markets CFD (True ECN Account)
IC Markets CFD (True ECN Account)
US$200
US$200
0.1% per side
Australian Stocks, Global Stocks, Indices, Commodities, Forex, Cryptocurrencies (CFDs only)
MetaTrader 4
MetaTrader 5
cTrader
Disclaimer: CFD Service. Your capital is at risk.
Trade 230+ different products with fast execution under 40 milliseconds on average.
Go to site
More Info
Saxo Capital Markets CFD
Saxo Capital Markets CFD
1,000
1,000
0.10% with $6 minimum
Bonds, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Options, (CFDs only)
SaxoTraderGO
SaxoTraderPRO
Disclaimer: CFD Service. Your capital is at risk.
Award-winning trading platfrom with extensive charting tools and reliable execution.
Go to site
More Info
Blueberry Markets CFD Trading
Blueberry Markets CFD Trading
US$100
US$100
$20 per month subscription plus 2% of trade size
Australian Stocks, Commodities, Cryptocurrencies, Indices (CFDs only)
MetaTrader 5
Disclaimer: CFD Service. Your capital is at risk.
Bottom of the market fees on forex, CFDs and commodities with 24/7 quality customer service.
Go to site
More Info
ACY Securities CFD
ACY Securities CFD
$50
$50
No commission
Australian Stocks, Bonds, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Metals (CFDs only)
MetaTrader 4
MetaTrader 5
Disclaimer: CFD Service. Your capital is at risk. Trade over 2,000 products across CFDs, forex, indices, metals, shares, commodities and cryptocurrency, starting from as low as $50 a trade.
Go to site
More Info
loading

Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.

Invest in gold via the futures market

An alternative to buying gold stocks or units in an ETF is to speculate on price movements through CFD investing in the futures market. CFD investors try to profit from gold price movements – whether up or down.

Again, you don't own the asset itself, but instead own contracts based on the price movement.

That means that even if gold prices are falling, CFD investors can still make a profit (as well as a loss). However, because CFDs are risky and are complex derivative products, CFDs are better suited to advanced traders.

You can read more about CFDs in our comprehensive guide.

Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.

Disclaimer: General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.
1 - 9 of 9
Updated regularly
Name Product Minimum Opening Deposit Minimum Opening Deposit Commission - ASX 200 Shares Available CFD markets Platforms
Pepperstone CFD
Pepperstone CFD
$0
$0
$5 or 0.07%
Australian Stocks, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices (CFDs only)
MetaTrader 4
MetaTrader 5
cTrader
TradingView
Disclaimer: CFD Service. Your capital is at risk.
Get access to more than 60+ forex and CFD markets when you sign up with this award-winning Australian broker. Plus, access the new advanced TradingView charts platform.
Go to site
More Info
Vantage CFD
Vantage CFD
$50
$50
No commission
Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices (CFDs only)
MetaTrader 4
MetaTrader 5
TradingView
Disclaimer: CFD Service. Your capital is at risk.
Vantage has some of the lowest CFD trading fees in Australia including $0 commissions on all Gold trades. Plus you can find global trends and place trades through the new TradingView charts platform.
Go to site
More Info
IG CFD broker
IG CFD broker
$0
$0
0.08% with $7 minimum
Bonds, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Options (CFDs only)
MetaTrader 4
ProReal Time
IG Trading Platform and Apps
L2
Disclaimer: CFD Service. Your capital is at risk.
Trade from over 15,000 markets with Australia's leading service for CFD trading and forex.
Go to site
More Info
eToro CFD
eToro CFD
US$50
US$50
No commission
Forex, Shares, Indices, Cryptocurrencies, Commodities, ETFs
eToro Trading Platform
Disclaimer: CFD Service. Your capital is at risk.
Join the largest social trading network in the world.
Go to site
More Info
Plus500 CFD
Plus500 CFD
$200
$200
No commission
Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Options (CFDs only)
Plus500 Trading Platform
Disclaimer: CFD Service. Your capital is at risk.
Trade CFDs on Australian and International shares, indices, cryptocurrencies, commodities and more.
Go to site
More Info
IC Markets CFD (True ECN Account)
IC Markets CFD (True ECN Account)
US$200
US$200
0.1% per side
Australian Stocks, Global Stocks, Indices, Commodities, Forex, Cryptocurrencies (CFDs only)
MetaTrader 4
MetaTrader 5
cTrader
Disclaimer: CFD Service. Your capital is at risk.
Trade 230+ different products with fast execution under 40 milliseconds on average.
Go to site
More Info
Saxo Capital Markets CFD
Saxo Capital Markets CFD
1,000
1,000
0.10% with $6 minimum
Bonds, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Options, (CFDs only)
SaxoTraderGO
SaxoTraderPRO
Disclaimer: CFD Service. Your capital is at risk.
Award-winning trading platfrom with extensive charting tools and reliable execution.
Go to site
More Info
Blueberry Markets CFD Trading
Blueberry Markets CFD Trading
US$100
US$100
$20 per month subscription plus 2% of trade size
Australian Stocks, Commodities, Cryptocurrencies, Indices (CFDs only)
MetaTrader 5
Disclaimer: CFD Service. Your capital is at risk.
Bottom of the market fees on forex, CFDs and commodities with 24/7 quality customer service.
Go to site
More Info
ACY Securities CFD
ACY Securities CFD
$50
$50
No commission
Australian Stocks, Bonds, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Metals (CFDs only)
MetaTrader 4
MetaTrader 5
Disclaimer: CFD Service. Your capital is at risk. Trade over 2,000 products across CFDs, forex, indices, metals, shares, commodities and cryptocurrency, starting from as low as $50 a trade.
Go to site
More Info
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Investing in physical gold

This is the traditional approach and involves buying gold as a physical asset and owning it yourself. It allows you to get your hands on a tangible asset and avoid the counterparty risks associated with ETFs.

If you decide to buy physical gold, you'll then need to consider what form you'd like to acquire. You can buy gold bullion in bars or in coins. Bars are larger and therefore more expensive, but they are an effective option if you're looking to make a sizeable investment. Gold coins are smaller and less valuable, so they can be a more convenient option when you need to liquidate some of your investment.

There's an obvious downside though. You need to have a place to securely store your gold.

Gold bars

Stack of gold bars Image: Getty

Gold bars generally range in size from 1/10oz (ounces) to 1kg, but there are bars of up to 500oz available. However, remember that precious metals use troy ounces and that 1 troy ounce equals 31.1 grams.

There are 2 types of gold bars: cast bars and minted bars. Cast bars are produced by pouring molten gold into an ingot mould, while minted gold bars are manufactured via a minting or stamping process. Cast bars are cheaper to produce, but minted bars look better and are generally easier to sell.

Gold coins

Stacks of gold coins Image: Getty

Mints around the world also produce gold bullion coins. Typically smaller than bars and ingots, they're generally considered to be a more convenient option for many investors. Not only are they cheaper to buy, but they also make it easier to liquidate a small portion of your investment when you need cash. Coins contain between 1/10oz and 1oz of pure gold.

These coins also have a nominal monetary value and can be accepted as legal tender in the country where they're made – examples include the Australian Kangaroo, the American Gold Eagle, the Canadian Maple Leaf and the UK's Gold Sovereign.

Compare gold bullion dealers

Disclaimer: General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.
1 - 8 of 8
Updated regularly
Name Product Locations Product types Standard storage fees Standard delivery fee Available metals
Rush Gold
Rush Gold
Online
Unallocated bullion, Allocated bullion
$0
N/A
Gold
More Info
The Perth Mint
The Perth Mint
Bars
0% — 1% p.a.
$17.50 per kg
Gold
More Info
ABC bullion
ABC bullion
Sydney, Perth, Online
Bars, Coins, Unallocated Bullion
1.5% p.a
$25 per kilogram + 1% insurance fee
Gold, Silver, Palladium, Bronze
Bullion Capital
Bullion Capital
Online
Bars, Coins
0.6% – 1% p.a
US$230-280
Gold, Silver
Ainslie Bullion
Ainslie Bullion
Brisbane, Online
Bars, Coins, Unallocated Bullion
$13/oz p.a.
Calculated on weight and location
Gold, Silver, Platinum
KJC
KJC
Sydney, Online
Bars, Coins, Collectables
$0 to $1 million - 0.75% pa
$30 + $1.95 per oz
Gold, Silver, Platinum, Palladium, Rhodium, Copper
Jaggards
Jaggards
Sydney, Online
Bars, Coins
$252 - $1018 for depending on size
Calculated on weight and location
Gold, Silver, Platinum, Palladium
Guardian Gold
Guardian Gold
Sydney, Melbourne, Online
Bars, Coins, Collectables
From $300 - $3,000 p.a. depending on size
Calculated on weight and location
Gold, Silver
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Deciding where to buy gold

There are several options to consider when choosing where to buy gold, so make sure to keep the following in mind:

      • Location. There are several gold dealers around Australia, so the location of those dealers will influence your decision if you plan on buying gold in person.
      • Online options. Many online dealers allow you to conveniently buy gold bullion over the internet. As well as specialist dealers, you can also buy gold through marketplaces such as eBay and even arrange purchases through precious metal forums. However, as is always the case when spending money online, you'll need to make sure you know who you're dealing with – do some research to find out whether the seller is reputable and trustworthy.
      • How the gold was produced. You'll also need to find out where the dealer gets their gold from. Is it refined and produced by an established and recognised manufacturer?
      • Premiums and commissions. Read the fine print to find out what fees the dealer charges. Expect to pay a commission to the dealer, which is usually folded into the purchase price as well as an assay fee to check the purity of the gold and to verify its authenticity, but shop around for the best value.
      • Compare price to Australian gold price. Gold prices are commonly quoted in US dollars, so make sure you compare the price offered by a dealer with the current price of gold in Australian dollars.
      • Delivery. Find out how and when the gold will be transported to you or to its place of storage. Is it insured if anything goes wrong during the delivery process?

Storing your gold

Once you've purchased your gold, you'll also need to find a safe place to store it. There are several options to consider, including the following:

      • Bullion dealers. Many gold dealers will also offer a storage service where you can keep your gold bars or coins for a fee, so ask about the storage options available when you make your purchase.
      • Safety deposit boxes. You can rent a safety deposit box at a bank to securely store your gold bullion.
      • Secure vault storage. For high-level security, you may want to research vault storage companies near you and the storage options they offer.
      • At home. You can also choose to store your gold at home. This obviously may not be as secure as some other options, so you may want to get a home safe installed. You'll also need to update your home and contents insurance to make sure your precious metal is covered by your policy.

Why invest in gold?

Gold has a lot of benefits for investors, especially during more volatile periods.

Generally speaking, over a long enough time horizon gold appreciates in value, has universal recognition and can work as a hedge against inflation.

In fact, in some countries it is sill used as a form of currency and a gauge of wealth.

So gold can be used to protect and diversify your wealth.

However, just because gold has a proven track record, it comes with some risks, especially if you are trading CFDs.

Is gold a good investment?

This one is a little difficult to unpack and will all depend on your own risk profile and key objectives with investing.

While over a shorter period the price of gold can be incredibly volatile, take a long-term view and gold generally increases over time.

It also has a bonus of acting as a hedge against inflation. So in high inflation times, like we've experienced in 2022, gold generally appreciates in value offsetting other losses.

But, gold can underperform the share market.

If you look at macrotrends gold has significantly underperformed shares in the US over a 100-year period. It is the same story over 5, 10 and 30 years, although if you take the last 20 years gold is beating the Dow Jones, largely thanks to 2 down periods for the market being the GFC and COVID.

What is the best way for beginners to buy gold in Australia?

If you're just starting out the easiest ways to buy gold in Australia is either physically or through an ETF.

If you were to buy gold from the Perth Mint you can buy gold, silver and platinum metals in a variety of ways including collector coins, bullions and jewellery. Of course, if you buy gold from a mint directly like this, you'll have to have a way of storing it. It will become your responsibility to look after it.

If you haven't got a place to store your gold, a gold ETF is probably the second easiest way to invest in gold in Australia. You'll need to sign up to a broker in order to buy these ETFs, but it comes with an added perk of not having to store the gold anywhere.

Back to top

In a nutshell

Pros

  • Protect your wealth. Gold has long been seen as a reliable store of value that is largely unaffected by the factors that influence other investments. For example, when share prices plummet, the price of gold usually rises as investors look for somewhere "safe" to park their money.
  • Diversify your portfolio. Gold's "safe haven" status also makes it well worth considering if you're looking to diversify your investment portfolio and protect your overall financial position during a market downturn.
  • Easy to buy. Many dealers specialise in buying and selling gold, so getting your hands on this precious metal may be easier than you think.
  • It's a tangible asset. If global financial systems were to somehow collapse, such as what happened during the Great Depression, owning gold as a physical asset offers financial protection. Gold also can't be destroyed by fire or water damage and won't corrode over time.
  • Liquid. Gold is also easy to convert to cash whenever you need to do so.

Cons

  • Long-term returns may be lower. Gold is commonly seen as a steady investment, so it may not offer the same potential for big returns as other investments.
  • There are fees to consider. You'll need to factor additional costs such as dealer fees, delivery, storage, security and insurance into your calculations.
  • No ongoing income. Unlike owning property or shares, which can both provide an ongoing source of income in the form of rent and dividends respectively, gold doesn't provide regular income.

Frequently asked questions

Important information: Powered by Finder.com.au. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.

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