The Globe and Mail reports in its Tuesday edition that if you do not own any gold, now is the time to remedy that. Globe columnist Gordon Pape writes that there are several ways to do this, depending on your investment preferences. One way is buying top-performing gold stocks on the Toronto Stock Exchange. Mr. Pape is keen on Agnico Eagle, which is ahead 46 per cent year-to-date, and Alamos Gold, also up 46 per cent. Not all gold mining stocks are doing as well, but most have posted double-digit gains to this point. Then there are royalty stocks. The difference between precious metals royalty companies and conventional mining stocks is that companies using the royalty model do not do much, if any, prospecting or mining themselves. They act more like bankers to the industry. Companies like Pan American Silver put up money for exploration and production in exchange for a royalty interest in a mining company's revenue. This does not mean the royalty model is risk-free. Investors are not exposed to a range of costs that affect traditional miners, but geopolitical factors can have a significant impact on cash flow and profits. If you prefer owning gold rather than the miners, try New York-traded SPDR Gold Shares ETF (GLD).