Gold Is Cheap Again: 5 Ways to Get It Into Your Portfolio

More than nearly any other investment, gold inspires strong opinions among investors.

On one hand, superinvestor Warren Buffett has said that buying gold merely locks up your money in an asset that in his words is "neither of much use nor procreative."

On the other side of the coin you have advocates arguing that gold is the best choice to preserve purchasing power when central banks are pouring huge amounts of money into the world financial system, posing a threat to the value of ordinary currencies.

The debate over gold will never end, but what's indisputable is that gold prices rose more than 600 percent from mid-1999 to mid-2011, topping out around $1,900 an ounce, but have fallen by about $300 an ounce in the two years since.

If you're inclined to take advantage of what gold bugs might call a bargain opportunity, here are five ways you can add gold exposure to your investment portfolio.