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Gold warrants worth a look in this market Add to ...

With gold trading up at $1,613 (U.S.) an ounce on fears of a U.S. debt default and European sovereign credit concerns, investors who aren't already long the metal must be debating whether it's worth jumping in now, or if they've already missed the boat.

If you're in the first camp and believe there's still some upside, you might want to take a look at warrants for gold developers and producers, says Dundee Securities. Warrants aren't talked about often because the equities themselves usually take precedence, but they're worth at least even a quick look these days because gold stocks have lagged behind the metal's price increases.

Warrants, on the other hand, are very sensitive to price volatility, so even a slight up-tick in a stock can shoot a warrant's value higher.

They are also lucrative because they offer a big exposure to the equity for far less capital, and they often have longer expiry dates than options. However, warrants are much less liquid than stocks, so if you buy in, you could be stuck there for a while.

Dundee doesn't go so far as to name any warrants that are particularly attractive right now, but the firm does highlight which gold companies have warrants outstanding. The list is long, and includes the likes of likes of Kinross Gold Corp. , Agnico-Eagle Mines Ltd. , New Gold Inc. and Franco-Nevada Corp.

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