If you are engaged in speculation, then only paper gold will give you a profit. A gold bar is very difficult to sell, and the difference between buying and selling price is 30-50%

Everyone buys gold through ETFs to protect their capital. But did you know that 98% of such investors do not actually own a single physical bar?

You are not buying gold, but a receipt that says 'I owe you gold.' And no one knows which specific bar in the vault is yours. As long as the system works, there are no problems.