
Gold has been one of the hottest trades of 2025. The precious metal is up more than 50% for the year to date, and on October 7, it surpassed the psychologically significant $4,000 mark for the first time.
This rally has come as investors have poured billions into gold exchange-traded funds. According to the World Gold Council, U.S.-listed gold ETFs saw inflows of $32.7 billion through late September, while inflows into global gold ETFs topped $57 billion.