Overview
- Spot prices approached record territory this weekend, touching intraday highs above $4,690 per ounce and trading near $4,675 late Sunday local time in Mexico.
- Fresh risk aversion followed President Trump’s threat of tariffs on eight countries tied to disputes over Greenland’s status and reports of a judicial process involving Federal Reserve Chair Jerome Powell.
- Analysts say the rally reflects a structural search for safety, with numerous central banks and institutional investors steadily accumulating physical gold.
- Coverage distinguishes highly liquid ETFs such as SPDR Gold Shares (GLD) and ProShares Ultra Gold (UGL) from “physical gold” products like iShares Physical Gold ETC (PPFB) and WisdomTree Physical Gold (VZLD), a category favored by investors wary of paper exposure.
- John Murillo of B2BROKER cautions against leveraged gold ETFs due to the risk of sharp pullbacks, noting the metal’s ~65% gain in 2025 and continued support from dollar softness and global uncertainty.