The moment many gold investors and economists widely anticipated finally materialized earlier this month when the price of gold per ounce surpassed the $3,000 per ounce record threshold.

While the price of the precious metal has dropped by a few dollars since hitting that record on March 14, gold is still exorbitantly priced right now. Considering that it was just over $2,000 per ounce at the start of 2024, many interested gold investors may think they’ve been priced out of the market. And, if they strictly looked to invest in pure gold per ounce, they may be right. 

Fortunately, there are still viable ways to invest in gold now, without having to pay today’s top price. Doing so just requires a bit more strategy and nuance than usual. Below, we’ll list three ways in which you can invest in gold now without having to pay $3,000 or more.

Get invested in gold before the price rises again here.

How to invest in gold without paying today’s top price

Want to get invested in gold now to take advantage of future price hikes but don’t have enough to pay today’s top price? Then consider doing one or more of the following:

Explore fractional gold options

It’s important to remember that gold’s price per ounce is exactly that – gold’s price per ounce. You can and likely should look to invest in the metal in other, smaller increments. Fractional gold, for example, can weigh just one-tenth of an ounce, giving you a more affordable entry price point. At the same time, smaller amounts of gold can require more labor and additional work that could make the price higher than it would seem on paper for the smaller gold size. So you’ll have to determine if that markup is worth it. For many, it could be the difference between getting invested in gold now or not. Explore your fractional gold options, then, to determine if they make sense for you in today’s elevated price climate.

Review your current gold options online now.

Look to gold ETFs

Gold exchange-traded funds (ETFs) have long been considered a conventional way to invest in the precious metal but, right now, they may be one of your more affordable alternatives. These funds, traded on stock exchanges, provide an opening for prospective investors to get started with gold at just a fraction of an ounce, making them more affordable than gold types based on price per ounce. Still, it may require a bit more knowledge and monitoring of the market than a physical gold purchase requires, so the extra work will need to be weighed against the possible savings costs.

Consider dollar cost-averaging

By investing a set amount of money in gold over time, regardless of where gold’s price stands at any given moment, you can get started now, even with the price elevated. By doing dollar cost-averaging in the precious metal you can worry less about having to time gold’s price adjustments and focus more on investing a set amount of money over regular intervals. This will allow you to gain entry into the gold investing market at a price point you feel comfortable with and potentially position you for greater growth in the future should the price of the metal continue its upward trend, all without having to pay $3,000 or more per ounce for gold this minute.

The bottom line

If you haven’t yet taken advantage of the hedge against inflation and portfolio diversification a gold investment can provide, you can still do so now, even with the price sitting around the $3,000 mark. 

By exploring dollar cost-averaging, gold ETFs and fractional gold, either individually or in conjunction with one another, you can potentially benefit from a gold investment even in today’s climate. And with so many gold types to explore, there’s likely a cost-effective one that matches your risk tolerance and long-term goals. Still, it’s important to remember that many gold sellers determine price not just based on where gold is at the moment and, accordingly, can add a significant markup, depending on the type being sold. At the same time, it’s also important to remember that despite some small drops, long-term gold’s price only heads in one direction: upward. So by getting started with a small amount of the yellow metal now, you can potentially realize significant long-term gains in the months and years to come.