Is there a stock on the ASX or managed fund you can buy that tracks a commodity price we see on the news every night? In the same way I can get an investment to track say the All Ords index with a Vanguard product for low fees, can I get one to track say the barrel price of oil or the gold price?
I have heard about ETFs but being a market newb don't really understand how they work. I have heard of US ETFs such as USO for oil. Then there are futures, is buying futures the way to do it? I have also heard of funds that in layman's terms are "polar" in nature (OILUP/OILDOWN)and are dissolved at a trigger point, you basically bet on a commodity goinng up or down.
What is the simplest way for an Aussie investor to invest in say the price of oil we see on the finance report on the new each night? I realize it is risky and won't be putting the house on it. I would prefer to keep my investment in Australia if practical.