August 12, 2016 -- Well, as athletes from all over the world go for the gold in Brazil, investors are mining for gold in the markets. In some cases, quite literally.

The HUI gold mining stocks index rallied earlier this week to test its 2016 high mark but couldn’t break out above it. Mining stocks drifted modestly lower Thursday afternoon. But gold stock investors are still sitting on some mighty impressive gains for the year – over 150% for the HUI and over 125% for the GDX gold miners ETF.

As for gold itself, prices are up 27% for the year but down slightly for the week. Even though gold’s gains this year are being dwarfed by those of the miners, gold the metal has a good long-term track record. Gold has outperformed the major mining stocks over the last 10, 20, and 30 year periods – and with much less risk.

At the end of the day, gold investors believe holding the metal in the physical form is a true hedge against the risks inherent in financial assets -- like stocks, bonds, ETFs, and futures. Tangible assets including physical gold and silver give investors a measure of independence from the financial system.

Live prices at MoneyMetals.com show gold currently trading at $1,351.20 per ounce on the global market, and silver is coming in at $20.18.