Hedging Gold against downside

Looking at the rally in gold prices, i was wondering if it makes sense to move part of money from debt to Goldbees with proper hedging to gain from gold price appreciation. Note: No cashflow needed from this investment and looking to get capital gains. I am aiming to capture most of the upside if not all and hedge it properly to provide downside protection. Any suggestions? I have no idea about MCX, Futures and options.

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