New Delhi, May 29 -- After gaining around 30% so far this year, gold has halted its sellar rally as safe-haven demand cools across the globe. Yet, even as riskier investments like equities regain allure, gold retains its strategic importance in a diversified portfolio.

There are three major options for taking exposure to gold-jewellery stocks, gold exchange traded funds (ETF) and multi-asset allocation funds. Experts, however, suggest that the best way to play gold at this juncture is through multi-asset funds with prudent allocations to the yellow metal.

"An outright direct exposure to gold through ETFs or physical holdings may not be advisable at current levels," Taher Badshah, chief investment officer at Invesco Asset Management (Ind...