ETF Securities also pointed to a number of other “shocks” that could help support gold as a defensive play.

“For long-term investors, gold remains a good instrument to hedge against uncertainty,” according to ETF Securities.

For instance, in the U.K., a referendum on June 23, 2016 will determine whether or not the nation will remain in the European Union or make a “Brexit,” potentially triggering a destabilizing event. In the Middle East, posturing between Saudi Arabia and Iran, along with the refugee crisis out of Syria, are also risks to watch.

“Any of these issues could shock the market and bring volatility back to the fore,” ETF Securities added.

Related: 31 Gold ETFs Investors Should Size Up

Consequently, investors one can take a look at gold ETFs to hedge against some lingering market uncertainties.

For starters, the SPDR Gold Shares (NYSEArca: GLD), the world’s largest ETF backed by physical holdings of gold, has been a go-to option for large traders, hedge funds and institutional investors seeking to capitalize on its large pool of liquidity and tight bid-ask spreads.

Similarly, the iShares Gold Trust (NYSEArca: IAU) is another large option with a lot of active trading. Alternatively, since IAU and GLD shares are backed by gold stored in London vaults, investors can take a look at the ETFS Physical Swiss Gold Shares (NYSEArca: SGOL), which stores its physical gold holdings in Swiss vaults. The three gold ETFs have gained over 19% so far this year.

For more news and strategy on the Gold market, visit our Gold category.