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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Gold has been seen as a reliable store of value since ancient times. Today, it's commonly considered to be a stable investment that doesn't experience the same volatility as stocks and other tradable assets, making it well worth considering if you're looking for a way to protect your wealth.

There are 3 main ways that you can invest in gold from Australia:

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

Choosing a type of gold asset to buy

When most people hear the term gold bullion, it immediately conjures up images of bank vaults stacked to the ceiling with chunky gold bars. Gold bullion refers to gold that is at least 99.5% pure and has been transformed into bars or ingots or minted into coins. Bullion is the form in which gold is traded on commodities markets around the world.

If you want to gain exposure to gold in Australia, there are a few ways to go about it. You can physically buy and store gold, you can invest in gold stocks or ETFs via the stock market or trade gold on the futures markets as contracts for difference (CFDs).

Compare online brokers to trade gold stocks, ETFs and CFDs

Name Product Standard brokerage fee Inactivity fee Markets International
eToro (global stocks)
US$0
US$10 per month if there’s been no login for 12 months
Global shares, US shares, ETFs
Yes
Zero brokerage share trading on US, Hong Kong and European stocks with trades as low as $50.
Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider.
Join the world’s biggest social trading network when you trade stocks, commodities and currencies from the one account.
IG Share Trading
$8
$50 per quarter if you make fewer than three trades in that period
ASX shares, Global shares
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 shares, international shares, plus get access to 24-hour customer support.
ThinkMarkets Share Trading
$8
No
ASX shares
No
$8 flat fee brokerage for CHESS Sponsored ASX stocks (HIN ownership), plus free live stock price data on an easy to use mobile app.
Superhero share trading
$5
No
ASX shares, US shares, ETFs
Yes
Earn up to 15,000 Qantas frequent flyer points when you transfer an exisiting balance or trade. Offer valid for all new and existing Superhero members until 28 February.
Pay zero brokerage on US stocks and all ETFs and just $5 (flat fee) to trade Australian shares from your mobile or desktop.
GO Markets Share Trading
$7.70
No
ASX shares, Forex, CFDs, ETFs
No
Pay zero brokerage on your first 20 trades and $7.70 after that on over 2,500 ASX listed shares from either your desktop or mobile.
Opentrader Share Trading
$5
No
ASX shares, Options trading, ETFs, Warrants
No
Gain access to chess sponsored shares for as little as $5 per trade.
Get free live data, advanced charting and even gain experience before trading through fantasy portfolios when you sign up with OpenTrader.
CMC Markets Invest
$11
No
ASX shares, Global shares, mFunds, ETFs
Yes
$0 brokerage on global shares including US, UK and Japan markets.
Trade up to 9,000 products, including shares, ETFs and managed funds, plus access up to 15 major global and Australian stock exchanges.
Saxo Capital Markets (Classic account)
$5
No
ASX shares, Global shares, ETFs
Yes
Access 19,000+ stocks on 40+ exchanges worldwide
Low fees for Australian and global share trading, no inactivity fees, low currency conversion fee and optimised for mobile.
HSBC Online Share Trading
$19.95
No
ASX shares, mFunds, ETFs, Bonds
No
Limited-time offer: Join HSBC’s online trading account before 28 February 2022 and HSBC will reimburse you up to $100 on your first 5 trades. Also traders who transfer $50k+ will get a $200 bonus(T&Cs apply).
Make trades online with brokerage fees starting from just $19.95 with an HSBC Online Share Trading account. Plus gain access to complimentary expert research, trading ideas and tools.
SelfWealth (Basic account)
$9.5
No
ASX shares, US shares
Yes
Trade ASX and US shares for a flat fee of $9.50, regardless of the trade size.
New customers receive free access to Community Insights with SelfWealth Premium for the first 90 days. Follow other investors and benchmark your portfolio performance.
Bell Direct Share Trading
$15
No
ASX shares, mFunds, ETFs
No
Invest in Australian shares, options and managed funds from the one account with no inactivity fee.
Bell Direct offers a one-second placement guarantee on market-to-limit ASX orders or your trade is free, plus enjoy extensive free research reports from top financial experts.
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Important: Share trading can be financially risky and the value of your investment can go down as well as up. Standard brokerage is the cost to purchase $1,000 or less of equities without any qualifications or special eligibility. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Name Product Minimum Opening Deposit Minimum Opening Deposit Commission - ASX 200 Shares Available markets Platforms
Vantage CFD
$200
$200
$8 AUD or 0.08%
Forex, CFD shares, Indices, Cryptocurrencies, Commodities
MetaTrader 4
MetaTrader 5
TradingView
Disclaimer: CFD Service. Your capital is at risk.
Vantage FX has some of the lowest CFD trading fees in Australia, plus you can place trades and find global trends through the new TradingView charts platform.
eToro CFD
US$200
US$200
No commission
Forex, Shares, Indices, Cryptocurrencies, Commodities, ETFs
eToro Trading Platform
Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider.
Join the largest social trading network in the world.
Plus500 CFD
$200
$200
No commission
CFD on Forex, Commodities, Cryptocurrency, Indices, Shares, Options and ETF's
Plus500 Trading Platform
Disclaimer: CFD Service. Your capital is at risk.
Trade CFDs on Australian and International shares, indices, cryptocurrencies, commodities and more.
Capital.com CFD
$0
$0
$0
Forex, Shares, Indices, Commodities, Crypto, ETFs
Mobile Trading Platform
Disclaimer: Volatile investment product. Most clients lose money trading with this provider.
Trade with an award winning platform that allows access to over 4,000 markets, across CFDs with leverage across the world’s most popular indices, commodities, cryptocurrencies, shares and currency pairs.
ThinkMarkets CFD
$0
$0
$0 for standard account
Forex, indices, commodities, metals, share CFDs, ETF CFDs, futures
MetaTrader4, MetaTrader5, ThinkTrader
Disclaimer: Trading CFDs and forex on leverage is high-risk and losses could exceed your deposits.
Trade forex, commodities and CFDs using MetaTrader4/MetaTrader5 platforms or access advanced analysis tools through ThinkTrader.
IG CFD broker
$0
$0
0.08% with $7 minimum
Indices, FX, Shares, Commodities, Cryptocurrency, ETPs, Options, Interest Rates, Bonds
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.
AvaTrade CFD
$100
$100
No commission
ASX shares, global shares, indices, metals, cryptocurrencies, commodities, ETFs, options, forex
AvaTradeGO
MetaTrader 4
MetaTrader 5
Disclaimer: Trading CFDs and forex on leverage is high-risk and losses could exceed your deposits.
Trade from an extensive selection of forex and CFD products, while getting access to extensive education resources, all for as little as $100.
IC Markets CFD (True ECN Account)
US$200
US$200
0.1% per side
ASX shares, global shares, indices, commodities, forex, cryptocurrencies
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 Markets CFD
$200
$200
$0
Stocks, Indices, Commodities, Crypto
MetaTrader 4
MetaTrader 5
WebTrader
Mobile Trading Platforms
Disclaimer: CFD Service. Your capital is at risk.
Trade over 600 products across CFDs, forex, indices, metals and commodities with award winning education and customer service provided.
Saxo Capital Markets CFD
3,000
3,000
0.10% with $6 minimum
Indices, FX, Shares & ETFs, Commodities, Cryptocurrencies, Options, Bonds
SaxoTraderGO
SaxoTraderPRO
Disclaimer: CFD Service. Your capital is at risk.
Award-winning trading platfrom with extensive charting tools and reliable execution.
City Index CFD
$0
$0
0.08% with $5 minimum
ASX shares, 4,500 global shares, indices
MetaTrader 4
At Pro
Advantage Web
Disclaimer: CFD Service. Your capital is at risk.
Trade CFDs on indices, FX, global & Australian shares and commodities, plus access other markets such as metals, bonds and interest rates.
Blueberry Markets CFD Trading
US$100
US$100
$20 per month subscription plus 2% of trade size
Indices, ASX200 Shares, Commodities, Cryptocurrency
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.
CMC Markets
$0
$0
0.09% with a $7 minimum
Forex, Indices, Commodities, Cryptocurrencies, Global shares, ASX shares, Bonds
CMC Next Generation CFD, MetaTrader 4
Disclaimer: CFD Service. Your capital is at risk.
Share CFD and forex ideas with other traders and take your strategy to the next level with over 100 technical indicators and charts on CMC’s mobile-friendly Next Generation platform.
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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.

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. Stock market investors can buy shares in companies that have gold exposure, such as gold miners, or they can buy units in a gold-themed exchange traded fund.

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 stock broker or online trading platform.

Zero brokerage share trading on US, Hong Kong and European stocks with trades as low as $50.

Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider.

Join the world’s biggest social trading network when you trade stocks, commodities and currencies from the one account.

ASX-listed gold stocks and ETFs

There are many gold stocks and ETFs listed in Australia. Some of the largest and most well-known gold stocks include:

Gold-themed ETFs listed on the Australian Securities Exchange are:

  • VanEck Vectors Gold Miners ETF (ASX: GDX)
  • BetaShares Global Gold Miners ETF - Currency Hedged (ASX: MNRS)
  • ETFS Physical Gold (ASX: GOLD)
  • Perth Mint Gold (ASX: PMGOLD)
  • BetaShares Gold Bullion ETF – AU Hedged (ASX: QAU)

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.

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.

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.

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 exchange-traded funds.

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.

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

Name Product Locations Product types Standard storage fees Standard delivery fee Available metals
Rush Gold
Online
Unallocated bullion, Allocated bullion
$0
N/A
Gold
The Perth Mint
Bars
0% — 1% p.a.
$17.50 per kg
Gold
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. There are also many online dealers that 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.

Things to consider before buying gold

If you're searching for ways to protect your wealth or diversify your investment portfolio, gold may be a practical solution. However, please be aware that just like any other type of investment, buying gold comes with certain risks.

Do your research to make sure you understand the risks involved in buying gold, including the costs of storage and security as well as the fact that the returns may not match those provided by other investments. This will help you make an informed decision about whether buying gold is the right choice for you.

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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 periods of market downturn.
  • Easy to buy. There are many dealers who 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.
  • Not as convenient as ETFs. ETFs offer a simple and cost-effective way to gain exposure to gold and may be a more convenient option than buying physical gold for many people.
  • 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

Disclaimer: 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 all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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