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What is the best way to invest in gold as a hedge against inflation without having to hold physical gold?
GLD, IAU, and SGOL are three different ETF's that you can invest in if you want to invest in gold without physically owning gold. Purchasing an ETF is just like purchasing a stock, so you're fine on that front.  Another alternative is to buy shares of companies that mine gold. An example of a single company is Randgold Resources (GOLD), and an ETF of mining companies is GDX. There are also some more complex alternatives like Exchange traded notes and futures contracts, but I wouldn't classify those for the "regular person."  Hope it helps!