“There’s gold in them thar hills!” runs the old Mark Twain quote, and my, how investors are running for them in 2026.
Last month, gold passed the $5,000 per ounce mark; its value was up from €1,150 a decade ago.
Geopolitical tensions, a global economic permacrisis and US president Donald Trump’s scattergun administration have all played a role in pushing the price to record highs, as fund managers seek “safe havens” for their money.
Cian Carolan, managing director of DNG Financial Services, says it’s tempting for less seasoned investors to join the gold rush.
“A lot of people will see what’s happened with the price of gold over the last 12 to 18 months and they’ll say, ‘that’s phenomenal. That’s brilliant. I want to jump on that.’ But the reality is most people don’t need those levels of returns to achieve the outcomes they want.”
He warns against novices getting swept up in the fever and diving right in.
But with certain fundamentals in place, like an emergency fund and high-interest debt cleared, investing in gold is a possibility.
Carolan explains the direct and indirect ways of getting involved in the market.
There’s buying gold bullion which can be delivered to your door but “you have to think about, okay, where am I gonna store it? How am I going to insure that? And what are the risks, say, associated with that?”
It might be more appealing, and subtle, to buy into an index fund, “like if you’re investing in an ETF [exchange traded fund] that tracks the price of gold”.
Jewellery designer Chupi Sweetman, founder of the brand Chupi, says there are other factors you might want to consider when investing in gold, like the ethical and environmental concerns associated with mining.
“Gold mining is filthy. It’s absolutely appalling. One of the big challenges right now with the hugely risen cost of gold is that there is more mining than ever taking place.”
Sweetman eschews virgin gold in her jewellery, opting instead for that which is known as “urban mined”.
The precious metal is extracted from consumer waste like smartphones and other discarded items containing circuit boards.
“There’s actually enough gold above ground that we don’t need to mine a single other gramme if we just recycle efficiently.”
The brand is set to formally announce its certification as a B Corp company on Wednesday March 18th.
The title is given to firms that meet verified social, environmental, and governance standards.
“We’ll be the first and only jeweller in Ireland and one of less than 50 in the world.”
Nevertheless, the brand is as susceptible to price fluctuations as any other jewellery company.
“We book our gold orders every Wednesday and the price can shift. There was a call made six weeks ago on a Wednesday morning. The price shifted in 20 minutes.”
You can listen to the discussion on the player above or search for Better with Money wherever you get your podcasts.
