Top 7 ASX gold ETFs to watch in 2026

ASX-listed gold ETFs give exposure to the metal in two main ways: through funds that hold physical bullion, or through funds that invest in shares of gold mining companies. Perth Mint Gold ($PMGOLD) sits outside the standard ETF structure altogether – it's a call option giving holders the right to acquire gold directly from The Perth Mint.

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 10 August 2026.

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1. Global X Physical Gold ($GOLD)

Global X Physical Gold (GOLD) share price over the last year: started at A$47.50, ended at A$56.27, a change of +18.5%. Range over the period: high A$71.90, low A$47.15. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $56.27 · Daily: 1.1% · AUM: $5.80B · MER: 0.40%

Physical bullion is what sits behind Global X Physical Gold ($GOLD). The fund aims to track the Gold Price PM in Australian dollars, before fees and expenses. Its value is intended to move broadly in line with the gold spot price. That makes it structurally distinct from miner-focused funds, where production costs and corporate decisions can cause returns to diverge from the metal's own price.

For a physically backed structure, the correspondence to the gold price is relatively direct. $GOLD's main drag on that tracking is fees and expenses rather than any operational factor.

2. Perth Mint Gold ($PMGOLD)

Perth Mint Gold (PMGOLD) share price over the last year: started at A$51.55, ended at A$61.12, a change of +18.6%. Range over the period: high A$77.95, low A$51.02. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $61.12 · Daily: 1.0% · AUM: $2.22B · MER: 0.15%

Gold Corporation creates Perth Mint Gold ($PMGOLD) on-market as a call option under the ASX Operating Rules. Each unit entitles the holder to acquire physical gold directly from The Perth Mint. The option can be exercised at any time, which sets $PMGOLD apart from funds that simply hold gold on the investor's behalf without that direct acquisition right.

The ASX price of $PMGOLD is intended to track the international over-the-counter spot price of gold, unhedged in Australian dollars. That price is based on the market value of the gold backing each unit at the time of trading.

3. VanEck Gold Miners AUD ETF ($GDX)

VanEck Gold Miners AUD ETF (GDX) share price over the last year: started at A$88.46, ended at A$110.22, a change of +24.6%. Range over the period: high A$170.11, low A$87.86. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $110.22 · Daily: 5.0% · AUM: $1.40B · MER: 0.53%

VanEck Gold Miners AUD ETF ($GDX) tracks a reference index of listed companies from around the world that are primarily involved in gold and silver mining. Rather than holding physical metal, the fund holds equity in those mining businesses.

The fund is passively managed, tracking the performance of its reference index in Australian dollars before fees and other costs. Its 0.53% MER is the cost of running that internationally diversified portfolio of gold and silver miners.

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

Betashares Gold Bullion Currency Hedged ETF (QAU) share price over the last year: started at A$27.11, ended at A$32.65, a change of +20.4%. Range over the period: high A$44.26, low A$26.71. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $32.65 · Daily: 1.6% · AUM: $1.19B · MER: 0.59%

Betashares Gold Bullion Currency Hedged ETF ($QAU) aims to track the price of physical gold bullion, before fees and expenses. The fund is currency-hedged against AUD/USD movements. Holding $QAU is intended as a more convenient path to gold bullion exposure than buying the physical metal – there's no storage to arrange and no insurance to take out.

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

Betashares Global Gold Miners Currency Hedged ETF (MNRS) share price over the last year: started at A$10.28, ended at A$14.80, a change of +44.0%. Range over the period: high A$20.83, low A$10.15. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $14.80 · Daily: 7.2% · AUM: $249.1M · MER: 0.57%

Betashares Global Gold Miners Currency Hedged ETF ($MNRS) aims to track the Nasdaq Global ex-Australia Gold Miners Hedged AUD Index. The index is designed to cover the largest and most liquid companies globally involved in gold, silver and other precious metals mining, with Australian-listed names excluded. $MNRS holds equity in mining companies rather than physical gold. The fund is also currency-hedged.

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

Global X Gold Bullion (Currency Hedged) ETF (GHLD) share price over the last year: started at A$53.58, ended at A$67.10, a change of +25.2%. Range over the period: high A$86.60, low A$52.64. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $67.10 · Daily: 1.7% · AUM: $235.3M · MER: 0.35%

Gold bullion exposure with a currency hedge built in is the central feature of Global X Gold Bullion (Currency Hedged) ETF ($GHLD). The fund is designed to track the spot price of gold, and its mandate describes the hedge as aiming to eliminate movements between the US dollar and the Australian dollar before fees and expenses.

$GHLD doesn't hold physical gold bars. It gains exposure through interests in a deferred purchase agreement – or DPA – structured to deliver investment results that correspond to the gold spot price. The currency hedge is embedded within that DPA rather than applied as a separate layer.

7. VanEck Gold Bullion ETF ($NUGG)

VanEck Gold Bullion ETF (NUGG) share price over the last year: started at A$51.57, ended at A$60.98, a change of +18.2%. Range over the period: high A$77.84, low A$50.86. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $60.98 · Daily: 1.3% · AUM: $234.5M · MER: 0.25%

VanEck Gold Bullion ETF ($NUGG) aims to hold physical gold bullion with a specific sourcing requirement: the gold is intended to come exclusively from Australian producers. That means the fund's custodian is designed to source bullion only from mining operations that pass due diligence under the London Bullion Market Association (LBMA) Responsible Gold Guidance – a set of standards covering ethical and environmental conduct.

The Australian Origin Gold focus sets $NUGG apart from most gold bullion funds, which draw on the broader global supply chain. Its MER is 0.25%. For investors tracking where their gold actually comes from, the provenance requirement is a defining structural feature of how the fund is built.

Common questions

How do I invest in gold ETFs in Australia?

All seven funds in this list trade on the ASX, so you can buy them through any share trading platform with ASX access, the same way you'd buy an ordinary share – search the ticker, set the number of units and place an order. The funds differ in how they get their gold exposure: some hold physical bullion, others hold shares in mining companies. Some are currency-hedged and some aren't, so reading each fund's product disclosure statement (PDS) before buying gives you the full picture of how it works.

What are the key risks of ASX gold ETFs?

Gold prices can be volatile, moving sharply in ways that don't follow the broader sharemarket. For unhedged bullion funds, the AUD/USD exchange rate adds another layer of movement – a rising Australian dollar reduces returns measured in AUD even when the gold price is steady. Miners funds carry additional risks on top of the gold price, including production costs, operational disruptions and company-specific decisions. Currency-hedged funds reduce exchange rate exposure, but hedging carries its own costs and the hedge may not be perfect.

What's the difference between a gold bullion ETF and a gold miners ETF?

A bullion fund holds physical gold – or interests backed by it – so its price tends to move closely with the gold price. A miners fund holds shares in companies that produce gold, and those shares are influenced by the gold price but also by things like operating costs, production levels and management decisions. Miners funds can amplify gold price movements in either direction, and they carry risks that have no connection to the gold price itself.

How do hedged and unhedged gold ETFs differ?

Gold is priced globally in US dollars, so an unhedged fund's AUD returns are affected by both the gold price and the AUD/USD exchange rate. When the Australian dollar strengthens against the USD, it reduces the AUD value of gold holdings even if the gold price hasn't moved. Hedged funds aim to reduce that exchange rate impact, so their returns more closely track the gold price in AUD terms. Among the bullion funds here, $QAU and $GHLD are currency-hedged while $GOLD and $PMGOLD are unhedged; the miners fund $MNRS is also hedged against the AUD.

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.