Core Insights - Gold prices have recently reached record highs, surpassing $4,300 per ounce on October 17, marking significant gains since the financial crisis in September 2008 [1][3] - A sharp 2% pullback occurred by the end of the week, representing the largest weekly loss in over two months, which some traders view as a cooling-off period [2][4] - Analysts remain optimistic about gold's future, with projections indicating potential price increases to $5,000 by 2026 [5][6] Market Drivers - The rally in gold prices was driven by rising fiscal uncertainty due to the U.S. government shutdown, a weakening dollar, escalating geopolitical tensions, and fears of a broader market correction [3][4] - Central banks are expected to purchase around 900 tons of gold in 2025, contributing to strong demand [3] Investment Vehicles - Gold ETFs are preferred over physical gold due to lower costs, liquidity, and ease of trading, allowing investors to respond quickly to market changes [7] - Year-to-date, gold ETFs have added 638 tonnes, bringing total holdings to 3,857 tonnes as of October 13 [8] Gold ETFs Overview - SPDR Gold Shares (GLD) has approximately $142.22 billion in Assets Under Management (AUM) and a year-to-date increase of 60.7% [10][11] - iShares Gold Trust (IAU) has $66.17 billion in AUM with a year-to-date increase of 62.9% [12] - iShares Gold Trust Micro (IAUM) has $5.61 billion in AUM and a year-to-date increase of 63.2% [13] - abrdn Physical Gold Shares ETF (SGOL) has $7.09 billion in AUM with a year-to-date increase of 60.9% [14]