The Globe and Mail reports in its Tuesday edition that with the price of gold surging, more investors are turning to gold to add some juice to their portfolios and to hedge against uncertainty. The Globe's John Heinzl writes that central banks have also been adding to their bullion holdings. If you are keen on owning gold, Mr. Heinzl advises moderation. Yes, gold has been on a roll recently, but there are no guarantees the rally will continue. Moreover, gold pays no dividends or interest, so the only way to come out ahead is to sell your gold at a higher price than you paid for it. A percentage allocation in the single digits is plenty for most people. There are several different ways to invest in gold, each with its own pros and cons. If you want to avoid the hassles and expense of holding physical gold, buying an exchange-traded fund that owns gold may be the way to go. Examples include the iShares Gold Bullion ETF (CGL), its hedged counterpart (CGL), the BMO Gold Bullion ETF (ZGLD) and the hedged version (ZGLH). The Royal Canadian Mint also offers exchange-traded receipts (MNT) that provide investors with an interest in gold bullion held in custody by the mint, which is a federal Crown corporation.