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Gold has been one of the most closely watched investment assets in recent months — and for good reason. Gold prices have surged to multiple record highs over the past year and have hit numerous new milestones over the last few months in particular. That uptick has been driven by the perfect mix of inflation concerns, global uncertainty and shifting expectations around rate cuts, and in this type of landscape, the precious metal tends to be particularly attractive as a hedge and a long-term store of value.
But while gold’s meteoric rise has been impressive, the precious metal’s trajectory hasn’t exactly been one-directional. After hitting its latest record high price of $5,589.38 per ounce in late January, gold has ebbed and flowedand is currently taking a downward turn. Right now, for example, the price of gold has pulled back to $4,614.84 per ounce. That represents a decline of roughly 17% in just a matter of weeks.
While a drop like this can be unsettling, it can also present an opportunity, as lower prices can create a more accessible entry point for gold investors. What gold assets make the most sense to consider right now, though, before the price has a chance to tick back up? Below, we’ll detail three worth considering now.
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3 gold investments to consider now, while the price is lower
If you’re trying to capitalize on gold’s recent pullback, there are multiple ways to gain exposure — each with its own benefits, risks and timing considerations. Here are three options that you may want to evaluate now:
Physical gold (coins and bars)
Buying physical gold remains one of the most straightforward ways to invest in the metal. Gold coins and bars offer direct ownership, meaning your investment isn’t tied to a financial institution or market intermediary, and that can be especially appealing during periods of economic uncertainty or market volatility, much like we’re facing currently.
With prices down from their recent highs, physical gold may feel more attainable right now than it did even just a few weeks ago. And, if your budget is limited, you have the option to purchase smaller denominations — such as 1-ounce gold coins or fractional gold bars — to ease into the market rather than committing a large sum upfront.
However, there are trade-offs to consider. Storage and security are key concernswhether that means investing in a home safe or paying for a secure depository. Liquidity can also be slightly more complex compared to digital gold assets, as selling physical gold often requires working with a dealer and accepting market spreads. Still, physical gold remains a foundational option worth considering now, particularly for those focused on long-term wealth preservation and tangible assets.
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Gold exchange-traded funds (ETFs)
Gold ETFs provide a more convenient and liquid way to invest in gold without physically owning it. These funds track the price of gold and can be bought and sold through a brokerage account, just like stocks.
One of the biggest advantages of gold ETFs is accessibility. With this route, you gain exposure to gold’s price movements, but without the storage, insurance and other logistical challenges that come with owning physical gold. Gold ETFs also make it easier to adjust positions as market conditions evolve, as you can buy and sell them quickly.
In the current environment, gold ETFs can be particularly useful for investors who want to take advantage of the recent price dip but aren’t ready to commit to physical ownership. The lower entry prices tied to gold ETFs make it easier to build a position gradually, especially if the price volatility continues.
That said, gold ETFs don’t offer the same level of direct ownership as physical gold. With this approach, you are essentially buying shares in a fund that holds gold, which introduces some degree of counterparty risk, though it’s typically minimal if you’re focusing on well-established funds.
Gold IRAs
For those thinking long-term, a gold individual retirement account (IRA) can offer a tax-advantaged way to invest in physical gold within a retirement account. These self-directed IRAs allow you to hold approved precious metals, combining the benefits of gold ownership with the tax structure of traditional retirement savings.
With gold prices currently below their recent peak, this could be a unique opportunity to diversify your retirement portfolio at a more favorable valuation. This approach can, after all, be particularly appealing in a broader environment where interest rates are expected to decline and traditional fixed-income yields may become less attractive over time.
Gold IRAs do come with some important considerations, though. There are setup fees, storage requirements and specific Internal Revenue Service (IRS) rules governing the types of metals that can be held. They also tend to be less liquid than gold ETFs, making them better suited for long-term strategies rather than short-term trades.
However, if you’re focused on diversification and inflation protection within your retirement accounts, a gold IRA can be a strategic addition now that gold prices have pulled back.
The bottom line
Gold’s retreat from its January record doesn’t necessarily signal trouble ahead. Corrections are a routine part of any asset’s price history, even one as resilient as gold. So, whether you’re drawn to the accessibility of a gold ETF, the tangibility of coins or bars or the tax advantages of a gold IRA, the current dip may offer a more favorable entry point than the market provided just weeks ago. As with any investment decision, it’s important to fully weigh your options and consider all of the factors at play, but if you’ve been waiting for a pullback on gold prices before buying in, that window may be open.