Investing in Gold in Australia

One of the easiest ways to invest in gold in Australia must be purchasing GOLD shares on ASX. This is a trust (or an ETF, if you want) that provides exposure to the price of Gold in the world commodity markets.
As listed on ASX:

Gold Bullion Securities (GOLD)

The development of Gold Bullion Securities (ASX code GOLD) has been a joint initiative between Gold Bullion Limited and the World Gold Council. A GOLD security consists of a gold bullion share of nominal value and a beneficial interest in approximately 1/10th of one fine troy ounce of gold bullion held on trust for the holder of the security.

The gold is held in London vaults by a custodian. A trust deed establishes a separate trust for each holder of GOLD so that the holder is absolutely entitled to the gold bullion held in the vaults. Each time a holder transfers GOLD to a new holder, the beneficial interest in the gold bullion automatically transfers to the new holder.

Investors can buy GOLD securities on ASX or, if they have a minimum of $500,000 to invest, they can apply for new GOLD securities from Gold Bullion Limited. Likewise holders of GOLD securities can sell them on market, or (subject to certain conditions and fees applying) they may redeem them at any time for cash or in exchange for London Good Delivery bars.

Investors wishing to invest in the securities should familiarise themselves with full details of the investment contained in the prospectus issued by Gold Bullion Limited, including fees and conditions applying and the risk factors involved.

Prospective investors should also seek independent professional advice before making a decision to invest.

Gold Bullion Securities listed on ASX - Prospectus information