Should You Invest in Gold in 2026?

Investing is a delicate science and a complex set of actions that can help preserve capital. However, there are classic methods with a proven track record — one of them is investing in gold, specifically in investment-grade precious metals rather than jewellery. Let’s look at what to invest in in 2026 and what options are available to investors.

Gold remains one of the most popular investment instruments thanks to its unique properties. It is an inert metal that does not corrode and can be preserved for centuries without significant changes. Gold reserves are limited, while the cost of extracting it is relatively high. As a result, gold has historically tended to increase in value over the long term, although its price can fall significantly during certain periods.

Other reasons for gold’s popularity include:

• A crisis-resistant asset. Gold often rises in value during periods of geopolitical tension and economic instability, although this trend is not guaranteed. When stock markets decline, gold often demonstrates greater resilience or recovers more quickly, making it a potential way to protect capital.
• Protection against inflation. Gold is often considered “hard money” that cannot simply be printed, unlike fiat currencies. Over the long term, it can help preserve purchasing power.
• A tangible asset. Its limited supply and historical value are linked to the fact that global reserves are finite, gold production is growing slowly, and major new deposits are being discovered less frequently. Unlike shares or cryptocurrencies, gold exists physically and is not dependent on corporate decisions or technological risks.
• Liquidity and accessibility. Gold is relatively easy to store, buy and sell. Its high liquidity makes it a convenient asset for both purchasing and selling.

Gold remains a relevant investment instrument because it can offer stability and protection in a world where traditional assets are often exposed to significant risks.

Investment gold is a high-purity precious metal purchased to preserve and grow capital rather than for jewellery production or industrial use.

It works on a simple principle: you purchase a gold bar or investment coin at a price based on global market prices plus the seller’s premium. It can be stored at home in a safe, in a bank safe-deposit box or in a specialised vault.

Gold does not deteriorate or rust and can be stored for decades without losing its properties. When the market price rises, it can be sold back to a bank that offers a buy-back service or to another licensed dealer.

Bank gold refers to certified gold bars or coins sold by banks and authorised dealers. Gold investments can be either physical or financial.

Physical gold includes gold bars ranging from 1 gram to 1 kilogram. Each unit has a certificate and serial number and complies with international standards. Investment coins are also considered a form of bank gold. Examples include the “Archangel Michael” series in Ukraine and the American Gold Eagle. In addition to the value of the metal itself, some coins may have numismatic value.

Alternatives to physical gold include ETFs, shares in gold-mining companies, futures and other exchange-traded instruments.

In other words, the market offers various forms of investment gold. When choosing a particular option, consider its advantages and disadvantages, as well as your ability to store it securely.

Gold bars are one of the most popular forms of investment gold. They are refined “bricks” of metal produced by refineries that comply with international LBMA standards.

Investing in gold bars is a reliable way to preserve capital over the long term. It is particularly suitable for investors who value the tangible nature of an asset.

Gold investment coins are high-purity precious-metal products designed to preserve capital. Some investors also purchase them specifically for collecting.

Buying gold coins means investing in the metal while also having a convenient way to store value. They are popular among private investors who value liquidity and aesthetics.

Bank gold bars and investment coins are both made from high-purity metal, but they differ in their investment characteristics.

Gold bars generally carry a lower premium over the value of the metal, making them more cost-effective for investing larger amounts. Investment coins tend to cost more because of minting costs and limited production runs, but they offer greater flexibility when buying and selling smaller quantities. Some coins may also acquire additional numismatic value, whereas the value of gold bars is determined primarily by the market price of gold.

Investment gold can be purchased in Ukraine through banks and licensed companies dealing in precious metals. Before making a purchase, it is important to check the product’s origin, the availability of a certificate, its purity and the terms of the buy-back arrangement.

Step-by-step guide:

1. Choose a bank or dealer.
2. Check the NBU reference price for gold — one of the benchmarks for the Ukrainian market — as well as the bank’s spread. Compare offers from 2–3 financial institutions.
3. Prepare the required documents — a passport or ID card, and proof of the source of funds for large transactions.
4. Complete the purchase at a branch by selecting and paying for the bar or coin. Make sure you receive the certificate and receipt.

Your purchase can be stored at home or in a bank safe-deposit box. Important: do not buy gold from unverified sellers or private individuals.

Before making a purchase, evaluate the price, availability of documentation, buy-back terms and the bank’s reputation.

Key points to check:

1. Certification — the bar or coin should be certified, with a clearly marked serial number and intact packaging.
2. Purity — for gold bars, 999.9 fineness is standard.
3. Weight and size — the larger the bar, the lower the price per gram of gold tends to be.
4. Documentation — the bank should provide the manufacturer’s documentation and a cash register receipt.
5. Bank reputation — choose a reliable institution licensed by the NBU.
6. Storage options — check whether the bank offers safe-deposit boxes or other secure storage solutions.

When purchasing a coin or bar, inspect it visually. It should not have scratches or damage, and its characteristic shine should be preserved.

The price of a gold bar consists of several components:

• The global price of gold — determined on the London Bullion Market (LBMA) in US dollars per troy ounce (31.1 g);
• The NBU reference price;
• A premium — added by the bank or dealer;
• Production, transportation and insurance costs;
• The bank’s margin;
• The weight of the bar;
• The spread — the difference between the selling price (when you buy) and the buy-back price (when you sell).

The final price of a gold bar is also influenced by overall supply and demand, the US dollar exchange rate, seasonality and even political developments.

Gold is a classic diversification asset that can help reduce portfolio risk due to its relatively low correlation with shares, bonds and real estate.

Benefits of including gold in a portfolio:

• protection during periods of crisis;
• preservation of purchasing power when a currency loses value;
• stability;
• liquidity — gold bars can be relatively easy to buy and sell.

Gold typically accounts for around 5–10% of an investment portfolio. It is important to remember that gold is a long-term asset and does not generate quick returns or regular income in the same way as a deposit.

Physical gold in the form of bars or coins is not the only way to invest in gold. The market offers alternatives that eliminate some of the drawbacks of holding physical metal and do not require special storage conditions.

Alternative investments can be more convenient, more liquid and less expensive to maintain, but they do not provide the same degree of “physical” independence as owning the metal itself.

Gold ETFs are one of the most popular alternatives to physical gold. Their value is linked to the price of gold. An ETF is an exchange-traded fund that tracks the price of gold or holds physical gold.

Gold ETFs can be used to diversify an investment portfolio. The same general recommendation applies: they should account for up to 15% of your portfolio.

Deposits are funds held in a bank account at a specified interest rate. They can provide stable income in the short term and are protected by government guarantees. They generally require little ongoing attention and, in many cases, can be opened without a personal visit to a bank. Simple and convenient, but returns may fail to keep pace with inflation or protect against the impact of geopolitical shocks.

When you purchase a bond, you are essentially lending money to a government or private entity. The advantages include a fixed return and liquidity, while the level of risk depends on the issuer. The main disadvantage is relatively low returns.

Real estate is another type of asset. It can also help preserve capital, although its effectiveness depends on market conditions and the broader economic environment.

Gold has traditionally been considered a reliable defensive asset. It can also deliver capital appreciation over the long term. Therefore, in 2026, gold may be a suitable component of a diversified investment portfolio.

Gold held through a bank is one of the most common instruments for protecting capital during periods of crisis, inflation and uncertainty. For many investors, allocating between 5% and 15% of a portfolio to gold is considered reasonable. However, the optimal allocation depends on an individual investment strategy and risk tolerance. Alternatives such as ETFs, shares in gold-mining companies and bonds can be more convenient, more liquid and less expensive to maintain.

Where should you invest your money and what should you choose? Consider combining different instruments. Buying gold can help protect against inflation and geopolitical risks, while alternative instruments may offer higher return potential but also involve greater risks. The right choice depends on your risk tolerance, investment horizon and financial goals.