Gold is one of the world’s best-known investment assets.
But investing in gold doesn’t necessarily mean buying physical gold, finding somewhere to store it and eventually finding someone to buy it from you.
Through Level Africa, investors can access the Absa NewGold ETF (GLD), a security listed on the Nairobi Securities Exchange (NSE) that provides exposure to gold through an exchange-traded fund.
As of 8 September 2026, the latest NewGold ETF rate available through Level Africa was KES 5,415.
Investors can access the investment through Level Africa using UGX or USD.
So if you’ve been wondering how to invest in gold in Uganda without buying physical gold, this is one option worth understanding.
What Is the Absa NewGold ETF?
The Absa NewGold ETF is an exchange-traded fund, commonly shortened to ETF.
An ETF is an investment product whose units can be traded on a securities exchange.
NewGold is designed to provide investors with exposure to the price of gold.
Instead of buying individual company shares such as MTN Uganda or Airtel Uganda, you’re buying an investment whose performance is linked to a different underlying asset:
gold.
This makes it fundamentally different from investing in an individual company.
What Is an ETF?
An Exchange-Traded Fund (ETF) is an investment fund that is traded on a securities exchange.
You can think of it as combining characteristics of a fund with the ability to trade through a securities market.
ETFs can be designed to provide exposure to different assets or investment strategies.
Some track stock-market indices.
Others track bonds, commodities or particular sectors.
NewGold provides investors with exposure to gold.
Can You Invest in Gold in Uganda Without Buying Physical Gold?
Yes.
Buying physical gold is only one way to gain exposure to gold.
Through Level Africa, investors can access the Absa NewGold ETF.
That means you don’t have to personally:
- purchase physical gold bars
- verify and handle the gold yourself
- arrange personal storage
- find a buyer when you want to exit
Instead, you invest through an exchange-listed security.
This gives investors another way to include gold exposure within a broader investment portfolio.
What Is the NewGold ETF Price?
As of 8 September 2026, the latest Absa NewGold ETF rate available through Level Africa was:
KES 5,415
The price isn’t fixed.
As an exchange-traded investment linked to gold, its market value can change.
Always check the latest available rate through Level Africa before investing.
Where Is the NewGold ETF Listed?
The Absa NewGold ETF is listed on the Nairobi Securities Exchange (NSE).
This is important because Level Africa’s listed-securities offering isn’t limited to securities on the Uganda Securities Exchange.
Through Level, investors can access:
USE-listed securities
including companies such as Airtel Uganda, MTN Uganda, Stanbic Bank Uganda and others.
And:
Selected NSE-listed investments
including the Absa NewGold ETF.
This gives investors another opportunity to diversify beyond individual listed companies in Uganda.
What Currency Can You Use to Invest?
Through Level Africa, the NewGold ETF can be accessed using:
UGX or USD.
The latest supplied market rate is quoted in Kenyan shillings because the security is listed on the Nairobi Securities Exchange.
The applicable investment amount will therefore depend on the current market price and the relevant transaction and currency-conversion requirements at the time you invest.
How Does Investing in NewGold Work?
The basic idea is straightforward.
You aren’t buying shares in a gold-mining company.
And you aren’t personally taking possession of physical gold.
Instead, you’re investing in an exchange-traded product designed to give investors exposure to gold.
If the value of the investment rises, the market value of your holding can increase.
If it falls, the market value of your investment can decline.
This means NewGold shouldn’t be confused with a fixed-income investment or savings account.
Its return isn’t fixed.
How Do You Make Money From a Gold ETF?
The main investment opportunity comes from changes in the value of the underlying gold exposure and consequently the market value of the ETF.
For example, suppose an investor acquired units at a hypothetical price of KES 5,000.
If the market price subsequently increased to KES 5,500, the value of those units would have increased by 10%.
But if the price instead fell to KES 4,500, their market value would have declined by 10%.
These figures are purely illustrative.
They aren’t a forecast of NewGold’s future performance.
What Makes Gold Different From Shares?
When you buy a company share, you own an interest in a business.
For example:
Buying MTN Uganda shares gives you ownership exposure to MTN Uganda.
Buying Airtel Uganda shares gives you ownership exposure to Airtel Uganda.
A company’s performance, profits, industry and future prospects can therefore affect the value of its shares.
Gold works differently.
Gold isn’t a company.
It doesn’t have customers, revenue, profits or management.
Its market value is influenced by factors such as global demand and supply, investor sentiment, currencies, interest rates and wider economic conditions.
This means gold can behave differently from company shares.
NewGold ETF vs Physical Gold
If your objective is gaining investment exposure to gold, there are important differences between buying physical gold and investing through an ETF.
| NewGold ETF | Physical Gold | |
|---|---|---|
| Form | Exchange-traded security | Physical asset |
| Personal storage required | No personal storage of gold | Yes |
| Need to personally verify physical gold | No | Important |
| Bought through Level Africa | Yes | No |
| Market exposure to gold | Yes | Yes |
| Price can rise or fall | Yes | Yes |
| Physical possession | No | Yes |
Physical gold may appeal to someone who specifically wants to possess the asset.
An ETF may appeal to someone primarily interested in investment exposure to gold without personally handling the physical commodity.
NewGold ETF vs Individual Shares
Gold and company shares can perform different roles in a portfolio.
| NewGold ETF | Individual Shares | |
|---|---|---|
| Underlying exposure | Gold | Individual company |
| Company ownership | No | Yes |
| Potential dividends | Not the primary return mechanism | Possible where declared |
| Affected by company performance | No individual company exposure | Yes |
| Market price changes | Yes | Yes |
| Available through Level | Yes | Yes |
This distinction can be useful for diversification.
Someone whose portfolio consists entirely of company shares is heavily exposed to company and equity-market performance.
Adding an investment linked to another asset class can change the composition of that portfolio.
NewGold ETF vs Treasury Bonds
Treasury Bonds work very differently from gold.
| NewGold ETF | Treasury Bonds | |
|---|---|---|
| Exposure | Gold | Government of Uganda security |
| Income | No defined coupon | Scheduled coupon |
| Return predetermined? | No | Coupon terms defined |
| Maturity | No bond-style maturity | Defined maturity |
| Market value can change | Yes | Yes |
| Primary role | Gold exposure | Government security + income |
| Available through Level | Yes | Yes |
An investor primarily seeking predictable coupon income may view Treasury Bonds differently from someone seeking exposure to movements in the gold price.
They can also be held together.
NewGold ETF vs Unit Trusts
Unit Trusts are professionally managed pooled investment funds.
NewGold provides more specific exposure.
You are deliberately choosing gold exposure rather than selecting a fund manager to manage a broader portfolio according to a particular mandate.
| NewGold ETF | Unit Trust | |
|---|---|---|
| Investment | Gold-linked ETF | Managed fund |
| Portfolio managed for you | Product tracks its mandate | Yes |
| Diversified across many investments | Not in the same sense | Generally |
| Return fixed | No | No |
| Starting amount | Depends on market price and requirements | Some Level funds from UGX 100,000 |
| Available through Level | Yes | Yes |
This makes the two products suitable for different portfolio objectives.
Why Do Investors Include Gold in a Portfolio?
One reason investors consider gold is diversification.
Different investments don’t always respond to economic conditions in exactly the same way.
An investor might already hold:
- company shares
- Treasury Bonds
- Unit Trusts
- Fixed Income
Adding gold exposure introduces another type of asset into that mix.
The purpose isn’t necessarily to replace those investments.
It may instead be to reduce dependence on one particular asset class.
Diversification doesn’t guarantee profits or prevent losses, but it can change how concentrated a portfolio is.
Is Gold a Safe Investment?
Gold is sometimes casually described as a “safe” investment.
That description can be misleading if it suggests that its value can’t fall.
Gold prices fluctuate.
The market value of a gold-linked investment can therefore rise and fall.
An investor can buy at one price and later find that the investment is worth less.
Gold should therefore still be treated as an investment with market risk, not as a guaranteed-return product.
Does Gold Pay Interest?
Gold itself doesn’t pay interest in the way a Treasury Bond does.
Treasury Bonds have coupon payments according to the terms of the security.
Gold doesn’t produce coupon income simply because you own exposure to it.
The investment case is therefore different.
If your primary objective is regular investment income, compare gold carefully with investments specifically designed to generate income.
Does Gold Pay Dividends?
Gold isn’t a company, so it doesn’t generate company profits that can be distributed to shareholders as ordinary dividends.
This differs from shares such as MTN Uganda or Airtel Uganda, where investors may receive dividends when the company declares them.
For a gold investment, changes in the value of the underlying asset are much more central to the investment outcome.
What Can Cause Gold Prices to Change?
Gold prices are influenced by global rather than purely Ugandan factors.
These can include:
- global investor demand
- interest rates
- inflation expectations
- movements in major currencies
- geopolitical uncertainty
- central-bank activity
- global economic conditions
- supply and demand for gold
Because NewGold provides exposure to gold, these broader factors can influence the value of the investment.
Currency movements can also matter to an investor whose home currency differs from the currency in which the investment is quoted.
What Are the Risks of Investing in NewGold?
Before investing, understand that the price can move in either direction.
Gold Price Risk
If gold prices decline, the value of your investment can also decline.
Market Risk
NewGold is an exchange-traded security, so its market price can fluctuate.
Currency Risk
For a Ugandan investor, the investment involves exposure beyond UGX.
Changes between currencies can affect the investment experience and eventual returns when measured in your home currency.
Liquidity Risk
The ability to buy or sell an exchange-traded security can depend on market conditions and available liquidity.
Concentration Risk
Putting a very large percentage of your portfolio into gold creates another form of concentration.
Diversification means spreading exposure, not simply replacing one concentrated investment with another.
How Much Should You Invest in Gold?
There is no percentage that automatically fits every investor.
Instead, consider your wider portfolio.
If almost all your investments are already in one asset class, gold may provide different exposure.
But that doesn’t mean your entire portfolio should suddenly become gold.
Ask:
What role do I want gold to play?
Is it diversification?
Long-term exposure to gold?
Reducing reliance on company shares?
Exposure to an asset outside your existing investments?
The answer can help determine how you think about the allocation.
How to Invest in NewGold Through Level Africa
Investors can access the Absa NewGold ETF through Level Africa.
1. Create & Verify
Create your Level Africa account and complete the required verification.
2. Fund Your Wallet
Fund your account using the amount you intend to invest.
NewGold can be accessed through Level Africa using UGX or USD.
3. Find NewGold
Explore the available listed securities and select the Absa NewGold ETF (GLD).
Review the latest available market price before investing.
4. Invest & Track
Complete your investment and continue monitoring its performance through your Level investment journey.
Remember that the market price can change over time.
Building a Diversified Portfolio Through Level Africa
NewGold expands the types of investments an investor can access through Level.
Instead of holding only one kind of investment, you can explore different asset classes.
For example:
Shares
for direct ownership in listed companies.
Gold through NewGold
for exposure to gold.
Treasury Bonds
for Government of Uganda securities and coupon income.
Unit Trusts
for professionally managed investment exposure.
Fixed Income
for additional income-generating investment opportunities.
The objective isn’t to own everything simply because it is available.
It is to understand what each investment does and choose investments that fit your goals.
Invest in Gold Through Level Africa
You don’t necessarily need to buy and personally store physical gold to add gold exposure to your investment portfolio.
Through Level Africa, you can access the Absa NewGold ETF on the Nairobi Securities Exchange using UGX or USD.
You can also explore USE-listed shares, Treasury Bonds, Unit Trusts and Fixed Income opportunities from the same investment platform.
Create & Verify → Fund Your Wallet → Choose NewGold → Invest & Track
Frequently Asked Questions
How can I invest in gold in Uganda?
One option is to gain exposure to gold through the Absa NewGold ETF available through Level Africa rather than purchasing physical gold yourself.
What is the Absa NewGold ETF?
NewGold is an exchange-traded fund designed to provide investors with exposure to gold.
Where is NewGold listed?
The Absa NewGold ETF available through Level Africa is listed on the Nairobi Securities Exchange.
What is the NewGold ETF price?
The latest rate provided was KES 5,415 as of 8 September 2026. Market prices change, so check the latest available rate before investing.
Can I invest in NewGold using Uganda shillings?
Yes. Through Level Africa, the investment can be accessed using UGX or USD.
Do I receive physical gold?
No. Investing in NewGold gives you exposure through an exchange-traded security rather than taking personal possession of physical gold.
Does NewGold pay interest?
Gold doesn’t provide coupon interest in the way a Treasury Bond does.
Can I lose money investing in gold?
Yes. Gold prices and the market value of gold-linked investments can fall.
Is NewGold the same as buying gold-mining shares?
No. Buying shares in a gold-mining company means investing in a company. NewGold provides exposure to gold through an ETF.
Can I invest in NewGold and shares at the same time?
Yes. They provide exposure to different underlying investments and can form different parts of a portfolio.