Top 7 ASX gold ETFs to watch in 2026

Gold products on the ASX take two main forms: funds that hold physical bullion and funds that hold shares in gold mining companies. This list covers both, and includes one product with an unusual structure – Perth Mint Gold ($PMGOLD) is issued as a call option on ASX rather than a conventional ETF.

How we built this list: We selected these funds based on their industry or investment category and ordered them by assets under management. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in A$. Data updated as of 3 November 2026.

✅ Learn more: Top 9 ASX gold stocks to watch in 2026→

1. Global X Physical Gold ($GOLD)

Price: $51.44 · Daily: 1.3% · AUM: $5.42B · MER: 0.40%

A fund that holds actual bullion rather than miner shares, Global X Physical Gold ($GOLD) aims to track the gold price denominated in Australian dollars. The 'Physical' in its name reflects how the fund is constructed: $GOLD holds gold in physical form, not through derivatives or shares in mining companies. Its performance is therefore tied directly to movements in the spot gold price, before fees and expenses.

Unlike equity holdings, gold doesn't generate income through dividends or distributions – any return comes from changes in the metal's price. That makes $GOLD's mandate a direct one: track the bullion price as closely as possible.

2. Perth Mint Gold ($PMGOLD)

Price: $55.86 · Daily: 1.3% · AUM: $2.43B · MER: 0.15%

Perth Mint Gold ($PMGOLD) is issued by Gold Corporation – the entity that operates The Perth Mint – as a call option under ASX Operating Rules. That structure sets it apart from the other products in this list. Each unit gives you the right to acquire physical gold from The Perth Mint, and you can exercise that right at any time.

The ASX price is intended to track closely the international over-the-counter spot price of gold, expressed in Australian dollars and unhedged. So what you see on screen reflects both the movement of gold's spot price and the AUD conversion at the time of trading.

3. VanEck Gold Miners AUD ETF ($GDX)

Price: $96.62 · Daily: 0.7% · AUM: $1.33B · MER: 0.53%

Unlike the bullion-backed products in this list, VanEck Gold Miners AUD ETF ($GDX) holds equity in companies that mine for gold and silver. The fund aims to track a reference index of these miners, drawn from listed companies around the world. Those returns are expressed in Australian dollars. Because the underlying holdings are company shares rather than metal, $GDX carries exposure to the operational performance of those businesses alongside movements in the gold price.

4. Betashares Gold Bullion Currency Hedged ETF ($QAU)

Price: $29.45 · Daily: 0.6% · AUM: $1.10B · MER: 0.59%

Betashares Gold Bullion Currency Hedged ETF ($QAU) aims to track the performance of the gold bullion price, with a currency hedge against AUD/USD movements applied before fees and expenses. The fund is designed to replicate physical gold exposure without the practicalities of direct ownership – no storage or insurance to arrange.

$QAU is currency-hedged, which distinguishes it structurally from unhedged gold products elsewhere in this list.

5. VanEck Gold Bullion ETF ($NUGG)

Price: $55.78 · Daily: 1.4% · AUM: $263.9M · MER: 0.25%

The gold inside VanEck Gold Bullion ETF ($NUGG) is intended to come from Australian producers only. Those producers must meet due diligence requirements under the LBMA (London Bullion Market Association) Responsible Gold Guidance, a standard that covers responsible and ethical sourcing practices. The fund aims to hold that physical bullion through a custodian rather than investing in mining equities, so its price behaviour is tied to the metal rather than to company earnings or management decisions.

6. Betashares Global Gold Miners Currency Hedged ETF ($MNRS)

Price: $12.65 · Daily: 0.8% · AUM: $219.9M · MER: 0.57%

Gold, silver and other precious metals miners from outside Australia make up the index that Betashares Global Gold Miners Currency Hedged ETF ($MNRS) aims to track. The benchmark – the Nasdaq Global ex-Australia Gold Miners Hedged AUD Index – is designed to cover the largest and most liquid companies in those industries globally. Australian-listed miners are excluded, so the portfolio draws entirely from international markets.

The fund is currency-hedged to the Australian dollar. Silver and other precious metals miners sit in the index alongside gold producers, which makes $MNRS's scope a touch broader than its name alone implies.

7. Global X Gold Bullion (Currency Hedged) ETF ($GHLD)

Price: $60.50 · Daily: 0.6% · AUM: $230.6M · MER: 0.35%

Global X Gold Bullion (Currency Hedged) ETF ($GHLD) aims to track the spot price of gold bullion. The fund is currency-hedged, with the hedge aimed at eliminating movements between the US dollar and Australian dollar. To meet this objective, $GHLD holds interests in a deferred purchase agreement – a DPA – rather than physical gold bars.

A DPA is a contractual instrument that provides investment results linked to the bullion price, with the currency hedge incorporated into the structure. The fund's mandate uses "generally" to describe how closely it aims to match spot gold – a reflection of the practical limits of any hedged contractual arrangement.

➡️ Top 9 ASX commodity ETFs to watch in 2026→

Common questions

How do I invest in gold ETFs in Australia?

All seven funds in this article trade on the ASX, so you can buy them through a share trading platform the same way you'd buy any listed share. The range covers physically-backed bullion products, a bullion fund focused on Australian-origin gold, and portfolios of listed gold mining companies – the structure varies across funds, even if the buying process doesn't.

What are the key risks of gold ETFs?

Some of the key risks include gold price volatility, since the gold price can swing sharply in either direction. For unhedged funds, movements in the AUD/USD exchange rate also affect returns in Australian dollar terms. Miners ETFs carry an additional layer of exposure – they hold shares in operating companies, meaning production costs, management decisions and operational setbacks all feed into performance alongside the gold price itself. Funds that hold or are backed by physical gold also carry custody and counterparty risks specific to each product's structure.

How do gold bullion ETFs and gold miners ETFs differ?

Bullion ETFs aim to track the price of gold directly, typically by holding physical gold or interests backed by it. Miners ETFs hold shares in listed companies that extract gold and silver, so the return is linked to those companies' revenues, costs and capital decisions – not just the gold price. Gold price movements tend to flow through to miners' earnings, but so do operating risks that don't affect bullion funds.

How does currency hedging affect a gold ETF?

Gold is priced in USD on global markets, so for an unhedged fund, returns in AUD reflect both the gold price and movements in the AUD/USD exchange rate. A currency-hedged fund is designed to reduce the impact of that exchange rate movement, aiming to track the AUD gold price more closely. This list includes both approaches – some funds hedge the currency exposure between the USD and AUD, others don't, and the distinction applies across both the bullion and miners funds here.

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Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

Please refer to hellostake.com/pricing for the fees that apply. When you trade securities priced in another currency, currency conversion fees may apply and movements in the exchange rate may affect your returns.

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This article combines AI and human review from our analysts to bring you accurate, informative investing content at speed. For questions or suggestions, contact stakedesk@stake.com.au.