Factors such as central-bank buying, declining real yields, and global macroeconomic instability are leading the world’s oldest store of value to reestablish

Layer that on top of ETF inflows flipping positive amidst record demand (Q3 2025 alone witnessed a record $26 billion rush into gold-backed ETFs), and gold has effectively become the preferred macro hedge. Gold has spent weeks consolidating in the $4,200 to $4,300 range, but Bank of America views it as more of a breather than a ceiling.

Chinese gold ETFs continued to see sizable inflows, attracting RMB16bn; gold futures volumes at Shanghai Futures Exchange fell alongside the falling gold price volatility. Read more here.

Gold exposure is 6 basis points, or 0.06 percentage points, below its 2012 peak since the launch of gold ETFs in the mid-2000s.

Gold prices have soared this year, but that could change over time. So, do experts say you should invest next year?

As highlighted in our overnight session rewind, Gold has quickly breached above $4,300 and is now racing towards new all-time highs.