Gold is one of the most preferred forms of investment among Marwari businessmen. They invest in both physical and non-physical form of gold. Through, this paper, attempt was made to find the investment preference of Marwari businessmen of Guwahati city towards physical and non-physical form of gold. Data were collected from both primary and secondary sources to derive a suitable conclusion. Gold Bar, Coins, Jewellery, Gold ETF, Gold Account, Shares of Gold Mining Companies etc were the key determinants of the study. The study evidenced that 70 % of the Marwari businessmen of Guwahati city preferred physical form of gold over non-physical form of gold investment and 14 % of the businessmen preferred both the forms of investment.