Fundamentals haven't changed, page-143

I have silver and gold bullion physical, Perth Mint Gold on the ASX, Perth Mint gold and silver certificates and NST shares.

The problem with physical is liquidity, trying to cash it in if you are not near Perth Mint - you will pay a broker some fee, secure postage/insurance. With Perth Mint Certificates, if you bought later you will have to go through a broker and their fee. I'm lucky in that when I bought a long while ago I could do it through their trading line direct where I was given an account. PMG on ASX they charge you I think it is 0.1 gram pa fee. thouth this is more liquid since they guarantee a level of buying/selling, also you can cash the PMG 'shares' in for Physical if you want. It is more liquid than Physical but price is related to physical gold price.

Then you will have capital gains tax as applicable to bullion.

Shares in NST is a much easier way to 'own' gold with immediate liquidity.