Last updated: January 22nd, 2026
From the legends of ancient Aztec cities to Britain’s crown jewels, and Gollum coveting the precious One Ring, gold has always held an innate cultural significance to humans as a precious and powerful commodity.
Rare, lustrous and enduring – gold is not just a symbol.
It’s seen as a real store of value that many investors believe transcends cash and other paper investments.
Gold’s value is typically uncorrelated with shares, providing reassurance in times of market turmoil.
Let’s discover how to buy gold in Australia, plus its strengths and weaknesses as an asset class.
Above: January 2026 rush to buy gold in Martin Place, Sydney.
Why Invest In Gold?
Durability and diversification of your portfolio are two major reasons to invest in gold, regardless of prevailing economic conditions.
Above: Adjusted for inflation, a 25-year investment in gold outpaced a bank deposit by almost 3X.
However, Gold drew investor funds in 2025 — and hit record highs — due to inflation risks, rising government debt, geopolitical uncertainty and shaky global growth prospects.
It gained over 65% throughout 2025.
With gold prices surging, Australian investors have been literally queuing out the door of the ABC Bullion Sydney store since October 2025.
A correction soon followed, as investors took profits.
But with the world still going haywire, interest in gold didn’t wane, and it rallied again in December.
Important!
Gold has traditionally been seen as a “safe haven” by investors looking to diversify away from stock markets and hedge against inflation and weakening currencies.
Direct exposure to gold has long been viewed as a hedge against inflation — but this is contested, and some studies have shown it only holds true when gold is held for very long periods.
Its value can appreciate over time, but the potential for profits and returns are usually lower than what you’d expect from stocks or bonds.
(Related: Best Stock Trading Apps In Australia).
However, there’s evidence that the role gold plays in portfolios is changing.
Rather than a low-risk hedge, investors are embracing it as a long-term store of value and potential growth asset, which could drive sustained price momentum.
Important!
Analysts are divided on whether gold is overvalued due to the recent investing spree, or whether it will continue to see strong demand.
What Influences Gold Prices?
Not every finance pundit is convinced that inflation reliably (and positively) influences the price of gold.
However, ups and downs in the commodity’s value – driven by supply and demand – can also provide investment opportunities.
Rather than merely diverting funds to gold during times of turmoil, investors have started holding gold as a core asset.
Greater accessibility through exchange-traded funds (ETFs) has helped.
Did You Know?
A record $1.6 billion of inflows into ASX-listed gold-backed ETFs was seen in 2025.
Above: Change in value of $100 invested in gold and the S&P500 in 2000.
A recent analysis shows that while stocks have historically delivered better returns — over the past 25 years (2000-2025), gold was the superior investment.
How can you get a sense of the demand for gold?
- Demand for gold used in jewellery, electronics and other industries impacts its market value. Retail sales of gold jewellery is an important factor, with positive consumer sentiment and rising incomes positive for gold.
- Investor inflows into gold ETFs globally drive up demand and prices, as ETF providers must buy and hold gold to underpin the investment vehicle.
- Central banks stock up on gold to ensure they can meet their financial obligations—and the extent to which they do so has become a key driver of gold prices.
ING commodities strategist Ewa Manthey said central banks are still “bullion hungry”, wary of traditional currencies after financial sanctions imposed on Russia following its invasion of Ukraine.
More countries are ditching the USD in favour of gold. China has also been selling off its US government bonds to acquire gold.
A looming US debt crisis is a key reason, according to BlackRock’s Russ Koesterich.
Above: Seemingly never-ending geopolitical upheaval and uncertainty has propelled wary investors towards gold.
On the supply side, gold production levels and timelines play a part in gold’s price. That is, mining companies’ access to the resource, ability to extract and refine it, and speed to market.
This is also why shares in companies involved in gold’s mining, production, refinement and sale tend to increase in value when the gold commodity price is worth more.
(Related: AUD To Euro Forecast: Volatility Ahead?)
Because Australia is one of the world’s largest gold producers, Australian investors have a range of ASX-listed gold stocks to choose from.
Important!
According to a December 2025 update from the Australian Department of Industry, Science, Energy and Resources, our gold export earnings rose strongly in Q4 and are expected to keep rising in 2026-27.
The Department said Australian gold sector output will also lift.
The record prices and higher export volumes will combine to push gold earnings to $69 billion in 2025-26 and $74 billion in 2026-27, it predicts.
(Related: Best Share Trading Platforms In Australia).
What Are The Disadvantages Of Owning Gold?
Potential cons to be aware of if you plan to invest in gold include:
- You have to worry about its safe storage when you buy physical gold, which can also make your home and contents insurance more expensive or result in storage fees.
- Lower likelihood of strong returns. While commodity values can rise and fall, physical gold assets don’t inherently change or deliver returns—unlike companies you might invest in with the potential to grow, increase revenues and pay dividends, or interest from bonds.
- Fees associated with purchasing and selling your gold, including brokerage fees when you invest via gold ETFs and shares.
Another downside is buying gold at inflated prices, driven by fear during economic uncertainty rather than a deliberate strategy aligned with your long-term investment goals.
Important!
The inverse correlation between stocks and gold’s performance (why gold is seen a useful hedge) may also be less reliable.
Russ Koesterich from BlackRock points out that increased demand for gold as a diversifying asset means it’s now more likely to be correlated with equities.
In other words, if the US economy seriously falters and global markets crash — gold’s price would probably drop too.
Breakout Capital CIO Ruchir Sharma told CNBC said he worries that investors who joined the ‘gold rush’ in 2025 will be surprised by a positive correlation with stock markets on the downside.
However, Sharma said: “I’m still bullish on gold in the very long-term and I believe in a lot of the properties of gold as a safe haven.
| S&P 500’s Largest Declines | S&P 500 | Gold |
|---|---|---|
| September 1976 – March 1978 | -19.4% | 53.8% |
| November 1980 – August 1982 | -27.1% | -46.0% |
| August 1987 – December 1987 | -33.5% | 6.2% |
| July 1990 – October 1990 | -19.9% | 6.8% |
| July 1998 – August 1998 | -19.3% | -5.0% |
| March 2000 – October 2002 | -49.0% | 12.4% |
| October 2007 – March 2009 | -56.8% | 25.5% |
| May 2011 – October 2011 | -19.0% | 9.4% |
| September 2018 – December 2018 | -19.36% | 4.12% |
| February 2020 – March 2020 | -23.20% | 2.89% |
Expert Tip.
Investment scams also abound—the chance to buy or trade gold during dicey economic times can be used to con you out of your hard-earned cash. Be wary and thoroughly research any company or investment opportunity before committing.
What Is The Best Way To Buy Gold In Australia?
The best ways to gain gold exposure in Australia include:
- Buying physical gold bullion bars, gold coins or even quality jewellery.
- Becoming a shareholder in companies that mine, produce, refine and sell gold.
- Purchasing units in gold exchange-traded funds (ETFs) through holding physical gold, futures contracts in gold, or shares in gold mining/production companies.
- Trading on gold price movements of an underlying asset through a futures market, options contracts or contracts for difference (CFDs).
The convenience of a listed product means there have been enormous inflows into ETFs backed by physical gold in Australia, but plenty of people still hold their own gold bars too.
Some popular gold-themed ETFs listed in Australia include:
- Global X Physical Gold (ASX: GOLD)
- Perth Mint Gold (ASX:PMGOLD)
- BetaShares Gold Bullion ETF (ASX: QUA)
- VanEck Gold Miners ETF AUD (ASX: GDX)
Tips For Investing In Gold Bullion.
When buying physical gold bars or gold collector coins, keep in mind:
- Gold bars on the market can vary in purity and weight from just a few grams through to over 10kg. 21 carats and above is considered a high gold content, and investment grade gold is 99.5% pure or more. A bar that is 99.99% pure gold would be 24 carats.
- There are different brands to choose from. Some brands may cost more due to being imported from overseas.
Characteristics of gold bullion include:
- A mandatory bullion stamp that indicates its purity and weight.
- Additional serial numbers, depending on the bar’s origin.
Reputable Australian mints and sellers of gold bullion and gold coins include:
- The Perth Mint.
- The Melbourne Mint.
- Royal Australian Mint.
- ABC Refinery/ABC Bullion.
Important!
While you might have dreams of diving into your pile of gold coins, Scrooge McDuck-style, keep in mind that when you buy gold bullion, coins, collectibles or jewellery, you may pay a premium (above spot price) for the fabrication and design of these items.
Which Is The Safest Way To Buy Gold?
How you invest in gold or any precious metal should be based on your financial goals, investing strategy and risk tolerance.
There are rewards and risks to each type of gold investment. For instance:
- Owning physical gold provides certainty but creates cost, hassle and security risks arising from its storage.
- Gold ETFs are easy and affordable to invest in but you don’t own the underlying assets and you’ll face annual management fees. Plus, the returns are generally modest.
- Gold shares let you benefit from increasing commodity prices and returns based on a company’s strong performance, but this relies on picking winning gold stocks.
- Using CFDs and futures creates more opportunities to trade and potentially make profits —by speculating on gold prices — but these highly leveraged trades are complex and risky.
How Much Gold Should You Own?
Recommendations vary, but advisors bullish on gold generally argue it should make up between 5-20% of your portfolio.
How To Trade Gold Online In Australia?
Every type of investment in gold can be done online, including purchasing gold bars.
- Many mints, gold dealers and online brokers give you the option to buy gold online (after creating a trading account and verifying your identity) and have your gold shipped directly to you, or stored on your behalf via their on-site vaults. You can usually also shop in-person or buy gold over the phone if that’s your preference.
- Online stockbroking apps simplify the process of self-managing your investment in gold shares, gold certificates, gold ETFs, or gold futures. Once you’ve selected a platform, created an account and added funds, you’re ready to start investing in gold.
Storing Physical Gold In Australia.
Storing your gold in your own home creates added risk and stress because you’ll need to ensure your storage solution can’t be compromised in the case of a home invasion, fire or natural disaster.
You’ll also need to boost your insurance premiums (and payments) to cover potential losses.
Bank vaults provide a more reliable storage method but come at a cost; not all banks offer the service.
Expert Tip.
Commbank’s annual vault fees range from $252 to over $2,300, depending on the size you need, and there are a limited number of branches that make safety deposit boxes available.
Investor demand for securing physical gold and silver, and the closure of safe custody services by many banks, has seen the emergence of private vault and safe-deposit companies.
Many private vaults are also dealers in gold and silver—making it convenient to buy and store your investment with one provider.
Private vaults may offer:
- Increased privacy compared to a bank. You may not need to provide as many personal details and typically have more anonymity and flexibility when accessing the facility.
- More sophisticated security and self-management options, depending on the technology and monitoring put in place by the provider.
Before selecting secure vault storage, ensure you’re confident in their security and insurance measures.
When Should You Sell Your Gold?
Like any investment, you might choose to sell gold when you need money or if the price climbs considerably and you want to take profits.
Bullion dealers will often buy back your physical gold. Choose a reputable gold dealer and make sure you understand:
- How they’ll test and value your gold. Is there transparent information on the buyer’s website?
- How do their prices differ from market rates for gold, for instance, what’s the fee?
Remember, capital gains tax may apply if you make a profit on the sale of your gold investment.
Have You Missed This Gold Rush?
Gold has traditionally been viewed as more of a defensive stance and a way to diversify your portfolio to spread the risk – not a get-rich-quick investment.
But gold prices skyrocketed in 2025, and the demand may continue:
- Goldman Sachs predicts a weaker US dollar, ongoing trade tensions and demand from gold ETFs will see spot gold prices reach US$4,900 per ounce by December 2026 (it’s currently around US$4,400).
- J.P.Morgan is also bullish on gold’s value over 2026-27. Its outlook sees gold reaching close to US$5,000 per ounce by Q4 2026, and US$5,400/oz by year-end 2027.
Whether you join the rush to invest in gold should be based on your personal risk appetite and belief in gold as a protective, hedging or growth strategy.
You might agree that gold is a physical asset that will stand the test of time, unlike other investments like NFTs, which died a very quick death.
Important!
Gold’s market price can be highly volatile, and it is by no means a stable investment; nor is it the only way to store wealth and achieve diversification of your portfolio if you’re focused on long-term wealth creation.
FAQs On How To Buy Gold In Australia.
Here’s what beginner investors in gold usually want to know.
What other precious metals should I consider buying?
There are some other lucrative precious metals that you should keep an eye on. Consider diversifying your portfolio and buying silver, platinum, and palladium.
Each has its own risks and responds differently to market factors, such as political uncertainty and fashion trends.
During periods of high inflation, the value of precious metals tends to hold because their supply is limited.
Who are the biggest gold mining companies in Australia?
BHP (ASX:BHP) and Newmont Corporation (ASX:NEM) both have gold mining operations in Australia.
As of January 2026, the companies were the second and third largest companies listed on the ASX by market cap, with BHP valued at $236 billion and NEM valued at $167.9 billion.
Newmont takes the crown of the world’s largest gold producer.
Other gold mining companies in Australia include Evolution Mining and Northern Star Resources ($NST).
Important!
Australia’s gold industry is one of its biggest exports, generating an estimated $47 billion in revenue in 2024-25.
Disclaimer.
The information presented here is general in nature and does not endorse any investment product, market, provider, or service. It is not intended as financial advice or a recommendation to trade – or not to trade. Trading futures, shares, ETFs, options, CFDs, and forex involves a high level of risk and may result in significant losses, particularly when leverage is used. Past performance does not guarantee future results. Before trading, consider whether the product is appropriate for your circumstances and seek independent professional advice. Refer to the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) on the provider’s website.
Jody
Nelson says:
I attempted to use the “hack” to dodge conversion fees, but sadly after converting AUD to USD on a Wise account, there doesn’t seem to be a way to deposit that money into eToro; i.e. eToro recently disabled Wire transfers and Wise doesn’t support SWIFT transfers for sending USD to a bank in the US?
John Keys says:
CMC Invest are an abysmal in turning around new accounts.
Over 1 month to setup up an account with an investment trust, and still waiting. I was promised 5 business days.
Reg Watson says:
Given that China’s economy is going down the toilet how the heck do we expect an appreciation of the Aussie in 2024 ? We are tied to China.
Regular citizen says:
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