What are the Best ASX Gold ETFs in 2026

Gold prices have surged to record highs in 2026, surpassing AU$5,000 per ounce, as investors seek safe-haven assets amid global economic uncertainty. This rally is largely driven by intense safe-haven demand, geopolitical events, and expected U.S. interest rate cuts, which have shaken investor confidence and led to a significant shift towards gold. Traditional safe investments like the U.S. Treasury bonds and the dollar have faltered, prompting many to turn to gold for stability.

For Australian investors, this presents a timely opportunity to consider gold ETFs listed on the ASX. These ETFs offer a convenient way to gain exposure to gold without the complexities of physical ownership. In this article, we will explore the 7 best ASX gold ETFs to watch in 2026, helping you navigate the options available in the current economic climate.

Why buy gold in 2026?

Gold is currently a hot commodity. Rising inflation, renewed U.S. trade tariffs, and growing geopolitical tensions have increased economic uncertainty worldwide, pushing many investors toward traditional safe-haven assets such as gold.

Gold prices surged to new record highs in early 2026, with spot prices exceeding US$5,000 per ounce for the first time in January, driven by strong central bank purchases and increased demand from investors seeking protection against currency volatility and market instability.

In Australia, this surge in demand has been visible in both financial markets and physical bullion stores. Periods of heightened market uncertainty have driven investors to buy gold bars and coins, while others have turned to gold ETFs listed on the ASX as a more convenient way to gain exposure to the precious metal.

What is gold price today in Australia?

Track the current price of gold in Australia (and the US) below:

What is a gold ETF?

​A gold ETF is a type of investment fund traded on stock exchanges, much like individual stocks. It provides investors with exposure to the price movements of gold without the need to physically own the metal. Gold ETFs can be structured in various ways, including holding physical gold bullion or utilizing financial instruments like futures contracts to replicate gold price movements.

In Australia, gold ETFs offer a convenient and cost-effective method for investors to gain exposure to gold. They eliminate the challenges associated with storing and securing physical gold, as the responsibility for these logistics lies with the fund.

Additionally, gold ETFs can be bought and sold through brokerage accounts during trading hours, providing liquidity and flexibility. This makes them an accessible option for both novice and experienced investors seeking to diversify their portfolios with gold.

How does a gold ETF work?

A gold ETF is a financial instrument traded on a stock exchange. Gold ETFs are distinct from other types of ETFs in that they hold gold assets, which may be in the form of gold bars or gold futures contracts. Gold ETFs can be purchased on the stock exchange in the same manner as other stocks.

The value of gold ETFs has a direct correlation with the price of physical gold. Consequently, the increase in the price of gold will result in proportional growth in the value of the ETF.

When an investor purchases shares of a gold ETF, they do not directly own physical gold. Rather, they own shares of the ETF that represent a certain amount of gold. An investor purchasing a share of a gold ETF holding 100 ounces of gold will own 1/100th of an ounce of gold.

Gold ETFs are available in several varieties, including ETFs investing in physical gold, ETFs investing in the shares of gold mining companies, and leveraged gold ETFs.

7 best ASX gold ETFs to watch

Whether you're looking to add richness to your portfolio by investing in gold or to satisfy your interest in the precious metals market, Australian investors can explore the potential of gold ETFs. Below we highlight the best gold ETFs in Australia in terms of overall performance, providing insights into their unique characteristics and historical performance.

Top ASX gold ETFs

Global X Physical Gold Structured (ASX:GOLD)

Global X Physical Gold (ASX:GOLD) is a physically backed exchange-traded fund listed on the ASX and managed by Global X. Its main goal is to closely follow the movements of the spot price of gold. This ETF is underpinned by actual gold bars, which are securely stored in a vault located in London. JPMorgan Chase oversees the allocation and identification of each gold bar, ensuring transparency and investor protection. By holding physical gold rather than using financial instruments, the ETF offers investors a direct and reliable way to gain exposure to the value of gold.

Perth Mint Gold (ASX: PMGOLD）

Perth Mint Gold Structured Product (ASX:PMGOLD) is a cost-effective and accessible gold exchange-traded product (ETP) listed on the ASX. Managed by The Perth Mint, it offers investors exposure to the gold price without the need to hold physical bullion. PMGOLD is backed by gold stored in The Perth Mint’s vaults and is guaranteed by the Government of Western Australia, providing an added layer of security for investors.

BetaShares Gold Bullion ETF (ASX:QAU)

The BetaShares Gold Bullion ETF – Currency Hedged (ASX:QAU) offers Australian investors a straightforward way to gain exposure to gold prices while mitigating currency risk. This ETF is backed by physical gold bullion stored in JPMorgan Chase's London vaults, with each bar meeting the London Good Delivery standards. The fund employs currency hedging strategies to protect against fluctuations in the AUD/USD exchange rate, aiming to provide returns that closely track the performance of gold in Australian dollar terms. This makes QAU a suitable option for those looking to incorporate gold into their portfolios without the complexities of physical ownership or currency volatility.

VanEck Gold Bullion ETF (ASX:NUGG)

​The VanEck Gold Bullion ETF (ASX:NUGG) provides investors with direct exposure to Australian-sourced physical gold bullion. Each unit of NUGG is backed by gold bars that meet the London Bullion Market Association (LBMA) Responsible Gold Guidance, ensuring ethical sourcing from Australian producers. This ETF is designed for those seeking a tangible asset to hedge against market volatility and currency fluctuations.

With a competitive management fee of 0.25% per annum, NUGG stands out as one of the most cost-effective gold ETFs on the ASX. Additionally, investors have the option to redeem their holdings for physical gold, offering flexibility for those interested in owning tangible assets.

iShares Physical Gold ETF (ASX: GLDN)

The iShares Physical Gold ETF (ASX: GLDN) offers Australian investors a low-cost and direct way to gain exposure to the spot price of gold without the need to physically own or store the metal. Managed by BlackRock, this ETF invests in securities backed by physical gold bullion held securely in London vaults, aiming to track the performance of the LBMA Gold Price PM AUD Index before fees and expenses.

With a low annual management fee of 0.18%, GLDN provides a convenient option to diversify portfolios with an asset that historically has a low correlation to global equities, making it a popular choice for capital preservation and growth over the long term.

Top ASX gold miners ETFs

Betashares Global Gold Miners ETF (ASX:MNRS)

The Betashares Global Gold Miners ETF (ASX: MNRS) provides Australian investors with cost-effective and diversified exposure to the world’s largest gold mining companies outside of Australia. This ETF aims to track the performance of an index comprising major global gold miners, with currency risk hedged into Australian dollars to reduce foreign exchange volatility.

MNRS offers a simple way to spread gold sector risk beyond the relatively small Australian gold mining market, making it a valuable addition for investors seeking diversification and defensive benefits during times of market uncertainty. With a management fee of 0.57% per annum and semi-annual distributions, MNRS is designed for those looking to gain exposure to the global gold mining sector through a single ASX trade.

VanEck Gold Miners ETF (ASX:GDX)

The VanEck Gold Miners ETF (ASX:GDX) offers investors exposure to a diversified portfolio of global gold mining companies. It seeks to replicate the performance of the NYSE Arca Gold Miners Index, which includes leading gold miners such as Newmont Corporation, Barrick Gold, and Northern Star Resources. This ETF provides a way to gain indirect exposure to gold prices, as the profitability of gold mining companies is closely tied to the value of gold.

With a management fee of 0.53% per annum, GDX is suitable for investors looking to diversify their portfolios with gold-related equities. It's important to note that investing in gold miners carries different risks compared to physical gold, including operational and market risks specific to the mining industry.

How to invest in gold ETFs in Australia?

Investing in gold ETFs in Australia opens up new investment avenues. Whether the objective is to build a diversified portfolio, hedge against inflation, or capitalize on gold's potential appreciation, the following guide will equip you with the necessary investment knowledge to help you confidently navigate gold ETF investing in Australia.

Opening a brokerage account

Prior to investing in gold ETFs, you need to open a brokerage account. Compare the various brokers available to you based on fees, trading platforms, and services offered. Make sure the broker you choose supports gold ETF trading and offers commissions, trading tools, information content, and customer service that align with your expectations.

Researching and selecting the right Gold ETF

There are numerous gold ETF products available on the trading market. Some funds hold physical gold, while others may use futures contracts or derivatives. To identify the ETF that aligns with your investment objectives and risk tolerance, conduct thorough research and analysis of the prospectuses, historical performance, and expense ratios of different gold ETFs.

With moomoo ETF screener, investors can filter ETFs by AUM, expense ratio, theme, leverage type, management style, and other key metrics—all on a single platform. This streamlined approach allows investors to easily and quickly find ETFs that match their specific investment objectives, eliminating unnecessary research barriers and helping them transition more efficiently from analysis to action.

Monitor your investment

When purchasing gold ETFs, it is essential to monitor market activity and the performance of your investment. Gold ETFs are subject to fluctuations due to various economic factors, which can have a significant impact on gains and losses. Monitoring news from stock exchanges, national banks, and information platforms will ensure you remain informed and are able to make informed decisions regarding purchases and sales.

Reassessment and adjustment

Investing in gold ETFs is an ongoing, evolving process. It is advisable to review and reassess your investment on a regular basis to ensure that it continues to meet your requirements. You should adjust your position in a timely manner if your financial situation and personal income disposition changes.

What are the benefits and risks of buying gold ETFs

Gold ETFs have become a popular choice among investors. However, before considering adding them to your portfolio, it is essential to understand the benefits and potential risks involved to ensure a successful investment.

Pros of gold ETFs:

• Convenience and accessibility: Gold ETFs offer investors a convenient way to gain indirect exposure to the gold market. Unlike direct investment in physical gold, Gold ETFs are a straightforward and low-maintenance solution, eliminating the storage complexities and costs associated with owning physical gold.

• Resistance to inflation: Gold is widely regarded as the most value-preserving precious metal, making it an effective instrument in the fight against inflation, particularly during economic downturns and periods of market volatility.

• Liquidy: Gold ETFs are traded on the stock exchange like shares and are highly liquid compared to physical gold, allowing investors to buy or sell at market prices at any time during market trading hours.

• Transparency: The price of buying and selling physical gold bullion or gold products is affected by factors such as suppliers, supply channels, and other variables involved. But the share prices of traded gold ETFs are transparent and publicly available, and investors can track the performance of gold ETFs in real time through trading platforms like moomoo.

• Cost benefit : Gold ETFs of course also have the cost advantage common to ETFs. ETFs have lower fees than mutual funds because they are mostly passively managed. Furthermore, many brokers offer commission-free trading in ETFs.

Cons of gold ETFs:

• Market volatility: Gold ETFs are subject to price fluctuations due to changing market conditions. During the economic uncertainty triggered by the COVID-19 pandemic in 2020, the price of gold soared to record highs, driving the value of gold ETFs up. However, as the market stabilizes in 2022 and interest rates begin to rise, the price of gold falls, and so does the value of gold ETFs. This volatility can result in significant gains or losses in the short term.

• Tracking error: Sometimes, gold ETFs may not be perfectly synchronized with the price of physical gold. The inability to perfectly track the price of physical gold means that investing in a gold ETF may not reap the full benefits of rising gold prices.

• Counterparty risk: Counterparty risk is a potential risk for investors in gold ETFs. If the issuer of the ETF defaults or faces a financial crisis, investors may lose part or even all of their investments.

How are gold ETFs taxed?

Factors that determine the taxation of gold ETFs are the manner in which the price of gold is tracked (futures contracts or physical gold), the type of account in which the fund is held, the investor's place of domicile, the investor's place of residence, the jurisdiction in which the investment objective is located, and so on.

Under the U.S. tax system, gold ETFs that hold physical gold are taxed as collectibles, just like physical gold. Capital gains on trust-structured gold ETFs are taxed at a rate of 28% for collectibles. Gold ETFs that are not structured as trusts or that do not invest directly in precious metals are not subject to this provision. Since gold ETFs that hold physical gold do not distribute profits to investors, capital gains tax is only payable when investors sell shares in these gold ETFs and realize gains. And redemptions are not taxable events. Gold ETFs that have futures contracts and are structured as partnerships have a "60/40" tax rule, which applies a blended tax rate of 60% on long-term gains and 40% on short-term gains to investors' capital gains. However, this treatment applies specifically to the unique structure of certain commodity-based ETFs and not all gold ETFs. This applies even if the investor does not sell. Besides, if an investor holds a gold ETF in a tax-advantaged account such as an IRA, 401(k), or Roth IRA, no gains are taxed until the investor withdraws funds from the account.

Gold ETFs are taxed differently in Australia. First, Australia has no separate top tax rates for specific types of assets (such as collectibles) as the United States does. Additionally, there is no direct equivalent to the "60/40" rule in the United States in Australia, and capital gains are generally taxed at personal income tax rates. If a gold ETF is sold and a capital gain is realized, the gain is included in taxable income and taxed at the appropriate marginal tax rate.  It is worth noting that in Australia, capital gains generally qualify for a capital gains tax credit, which is a 50% discount on capital gains on the sale of an investment held for more than 12 months. Tax-advantaged accounts are also available in Australia. For example, if an investor holds gold ETFs in an Individual Retirement Account (IRA), such as super funds or self-managed super funds (SMSFs), the growth of the investment within the account is usually tax-free.

Specific tax provisions for gold ETFs may change over time and by relevant policies. For those seeking information on the tax provisions related to gold ETFs in the United States, the Internal Revenue Service (IRS) is the authoritative source. In Australia,  It is recommended that you refer to the latest Australian Taxation Office (ATO) guidance for updates. You may also seek assistance from a professional tax advisor.

Final thoughts on gold ETFs

In 2026, gold continues to shine as a strategic asset for Australian investors seeking stability amid global economic uncertainty. The surge in gold prices, driven by factors such as geopolitical tensions and inflationary pressures, underscores the metal's role as a safe-haven investment. ASX-listed gold ETFs offer a convenient and cost-effective way to gain exposure to gold, without the complexities of physical ownership. Whether you're interested in physically backed ETFs like Global X Physical Gold (ASX:GOLD) and Perth Mint Gold (ASX:PMGOLD), or prefer exposure to gold mining companies through ETFs like VanEck Gold Miners (ASX:GDX), there's a range of options to suit different investment strategies.

When considering gold ETFs, it's important to assess factors such as management fees, the structure of the ETF (physical vs. synthetic), and the underlying assets. For instance, some ETFs are backed by physical gold stored in secure vaults, providing direct exposure to gold prices, while others invest in a portfolio of gold mining companies, offering potential for higher returns but with increased risk.

Additionally, consider the currency exposure of the ETF, as some funds hedge against currency fluctuations, which can impact returns for Australian investors. By carefully evaluating these aspects, you can select the gold ETF that aligns with your investment goals and risk tolerance.

Gold ETF Australia FAQs

Why invest in Gold ETFs in Australia?

​Investing in gold ETFs on the ASX offers Australian investors a convenient and cost-effective way to gain exposure to gold without the complexities of physical ownership. These ETFs are backed by physical gold stored in secure vaults, providing a direct link to gold prices. They can be bought and sold through brokerage accounts during trading hours, offering liquidity and flexibility. This makes them an accessible option for both novice and experienced investors seeking to diversify their portfolios with gold.

Gold ETFs also serve as a hedge against inflation and currency fluctuations. As the value of currency declines, the price of gold tends to rise, helping to protect the purchasing power of your investments. Additionally, gold often moves independently of other asset classes, such as stocks and bonds, making it an effective tool for diversification.

How do I buy gold in Australia?

​Investing in gold in Australia can be approached through various methods, each catering to different investment preferences and risk appetites. Here are three primary ways to invest in gold:​

1. Buying physical gold

Purchasing physical gold involves acquiring tangible assets such as gold bullion bars, coins, or jewellery. This method offers direct ownership and can be done through reputable dealers, mints, or banks. However, it requires secure storage solutions and may involve additional costs for insurance and safekeeping.

2. Investing in gold stocks

Investing in gold stocks means purchasing shares of companies involved in gold mining and production. These stocks can offer leveraged exposure to gold prices, as company profits may increase with rising gold prices. However, they also carry risks associated with company performance, operational challenges, and broader market fluctuations.

3. Investing in gold ETFs

Gold Exchange-Traded Funds (ETFs) provide a convenient way to gain exposure to gold prices without owning physical gold. These funds are traded on the ASX and can be bought or sold like regular stocks.

Does gold ETF give dividends?

​Gold ETFs can be categorized into two main types: those backed by physical gold and those that invest in gold mining companies.

Physical gold ETFs, such as Global X Physical Gold (ASX:GOLD), Perth Mint Gold (ASX:PMGOLD), and BetaShares Gold Bullion ETF (ASX:QAU), are designed to track the price of gold by holding physical bullion. Since gold itself does not generate income, these ETFs typically do not pay dividends.

In contrast, gold mining ETFs invest in companies involved in the extraction and production of gold. These companies may pay dividends based on their profitability, and such dividends are often passed on to ETF investors.

In summary, if your investment goal is to gain exposure to gold's price movements without seeking income, physical gold ETFs may be suitable. However, if you're looking for potential dividend income along with exposure to the gold sector, gold mining ETFs could be a better fit.

How do I choose a gold ETF?

When choosing a gold ETF, consider several key factors to find the best fit for your investment goals. First, look at the size of the fund’s assets under management (AUM)—a larger AUM usually indicates higher investor confidence and better liquidity.

Next, check the expense ratio, which is the annual fee charged by the fund; lower fees help improve your net returns over time.

Also, consider the tracking error, which measures how closely the ETF’s performance follows the price of physical gold—smaller tracking errors mean the ETF more accurately reflects gold’s price movements.

What is the largest gold ETF in the U.S.?

​The largest gold ETF in the United States is the SPDR Gold Shares ETF (NYSE Arca: GLD). As of April 2025, it manages over $100 billion in assets, making it the most substantial physically backed gold ETF globally. Each share of GLD represents one-tenth of an ounce of gold, with the underlying bullion securely stored in London vaults. This structure provides investors with a convenient and cost-effective way to gain exposure to gold prices without the complexities of physical ownership.

Is gold a good investment?

Whether gold is a good investment depends on your goals and risk tolerance. Gold prices can be volatile in the short term, but over the long run gold has generally preserved value and often performs well during periods of economic uncertainty. Gold is commonly used as a hedge against inflation, as its price tends to rise when the purchasing power of currencies declines. It can also help diversify a portfolio, since gold often moves differently from stocks and bonds.

However, gold does not generate income like shares or bonds, and historically the stock market has delivered stronger long-term returns. For many investors, gold works best as a diversification tool within a balanced portfolio, rather than a primary growth investment.