When gold prices are elevated, 1-ounce bars also offer superior liquidity compared to larger bars. They're easier to sell in smaller quantities, allowing investors to capitalize on price spikes or address cash needs without liquidating a large portion of their gold holdings.

Investing in mining stocks is fraught with uncertainty but, the long term demand, together with low and limited reserves of the precious metal, may make this segment worth an investment

While geopolitical tensions have historically driven demand for gold as a safe-haven asset, recent trends show that gold prices have been trading within a narrow range.

With the right strategies, experts say gold investing could be wise even at record highs. Here's what to know now.