Gold prices climbed above $4 000 per ounce for the first time yesterday, extending a year-long surge that has seen the metal rise roughly 50%in value since January.

This rally, driven by geopolitical tension, central-bank buying, stock-market valuations, and fears of inflation, has renewed public interest in the age-old safe haven.

For ordinary investors, the most accessible route into gold is through exchange-traded funds (ETFs) or unit trusts that track the metal’s price. These instruments can be bought and sold like shares, offering exposure without the hassle of storing physical bullion.

Others prefer to hold tangible assets such as coins or small bars, though storage, insurance, and resale costs can erode returns.

A more speculative approach involves gold-mining stocks, which tend to magnify the metal’s gains or losses depending on production costs and market sentiment.

Financial advisers warn, however, that gold can be volatile, and chasing the rally at record levels carries risk.

Investor Ray Dalio once advised allocating about 15% of a portfolio to gold for balance and protection in uncertain times. With prices now at unprecedented highs, the best strategy for everyday savers is likely one of caution.