Gold prices soared to historic levels on April 16, breaching the Rs 95,000 mark for the first time ever in the domestic futures market.

Potential investors might be reevaluating the conventional method of buying gold. You can invest in gold without managing its security and storage, thanks to many options.

Mutual Funds for Gold: These funds invest directly in gold mining companies or actual gold. Because they are professionally managed, they can provide exposure to the gold market and diversify your portfolio.

Exchange-traded funds (ETFs): Gold ETFs track the price of gold and are traded on stock exchanges. They provide a straightforward and reasonably priced way to invest without worrying about storage or security.

Gold Mining Stocks: One way to gain indirect exposure to gold prices is to invest in companies that mine gold. Gold prices and the efficiency of the company’s operations both affect stock performance.

Gold Futures and Options: Agreements to buy or sell gold at a certain price in the future are known as futures and options contracts. For seasoned investors who are aware of market speculation, these are perfect.

Sovereign Gold Bonds (SGBs): These government-issued bonds have interest payments and are correlated with gold prices. In India, for instance, SGBs provide returns based on gold’s market price, plus an additional fixed interest rate.