Gold is often seen as a haven for safety and a store of value, which makes it especially attractive during times of uncertainty.
And with the unpredictable nature of President Trump's tariffs, not to mention the continued wars in the Middle East and Ukraine, it's no surprise that many analysts expect the price of gold to keep going up.
Tariffs on their own do not necessarily push the price of gold higher. But the on and off nature of Trump's tariffs introduce a lot of turmoil in global trade. The risk of trade wars increases and it's that instability that can cause the demand for gold to go up.
The tariffs also have had a negative impact on the value of the dollar compared to other currencies. This has pushed up the value of an ounce of gold when calculated in dollars because the value of the dollar has gone down.
Most recently, analysts at Bank of America predicted that gold would reach $4,000 an ounce by next year. They are not alone. Analysts at J.P. Morgan expect gold to average $3,675 an ounce by the fourth quarter of 2025 and climb to $4,000 by the middle of 2026.
With the current spot price under $3,500, analysts see even higher prices ahead.
If you agree, the next question is – how can you take advantage of this?
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Physical Gold Bullion
The simplest way to take advantage of this is to buy physical gold.
There are numerous reputable sellers including JM Bullion and APMEX. You pay a slight premium over the spot price of gold and get them shipped to you in protective cases along with an assay certificate. If you pay with a credit card, there is often an additional fee. They offer slight quantity discounts and some merchants even accept a limited number of cryptocurrencies.
The benefit of this is that you can hold your gold in your hands. If there is actual geopolitical turmoil, there is no risk you can't get to your gold. There is comfort in physical possession.
The drawback is that transactions will be a little more cumbersome. To liquidate, you'll need to sell the bullion to a dealer or another buyer. They will likely give you a price less than spot. Also, you will also need to protect your coins, which could come with additional cost.
It is, however, the most secure and sure fire way to own gold.
Gold IRAs
If you don't want to take possession of the gold, you can invest in gold bullion through a self-directed IRA, also called Gold IRAs.
The benefit of a Gold IRA is that you get the tax benefits of an IRA while getting exposure to gold and other precious metals. If you hold it in a Roth IRA, for example, you won't be taxed on any of the appreciation.
The IRS allows for this if you have the gold held at a depository, rather than your home. This can increase the costs of ownership but removes the need for you to store, and protect, the gold yourself.
The drawback is that you never take delivery of your gold. While this does mean you don't have to worry about safeguarding it, it does mean you never touch it either. You can't take delivery at any point.
Some of the best companies for this are Augusta Precious Metals, Goldencrest Metals, and Birch Gold Group. You can request a complimentary gold investing guide from each to learn more.
Gold ETFs
If you want exposure to gold but are less interested in owning the metal itself, you can invest in an exchange traded fund that owns gold. It's one step removed but gives you exposure to gold without having to deal with it yourself.
Physically backed gold ETFs are exchange traded funds that hold physical gold bullion. SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) are the two most well known ETFs that do this.
As of August 2025, GLD has an expense ratio of 0.40% while IAU charges you a mere 0.25%. While these are higher than S&P 500 index funds, they aren't nearly as expensive as actively managed mutual funds.
Gold Mining Companies
Finally, you could invest in companies that mine gold or ETFs that hold shares in gold miners.
Gold miners benefit from higher profits when the price of gold goes up. However, it's worth nothing that the reverse is also true!
So, if you don't want to invest in a single gold miner, consider iShares MSCI Global Gold Miners ETF (RING). It owns global companies that derive the majority of their revenues from gold mining. It has an expense ratio of 0.39%.
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