The Gold Market was once inaccessible to small investors.  During the period 1980 – 2001 when gold prices fell from $850 to $260 per ounce there were very few private small investors.  At this time the market was dominated by jewelry (jewellery) manufacturers.  The only alternative to gold bullion investment available to small investors was the gold coin market until 2003 when Gold ETFs (Exchange Traded Funds) were first introduced in Australia.  Gold ETFs are now available internationally.  ETFs in gold and other commodities now allow investors with as little as $10,000 to invest in much the same way as large hedge fund managers.