American investors are massively increasing their positions in gold. Record inflows into ETFs backed by physical gold confirm the return of the yellow metal to its role as a safe haven.
Historic growth of gold ETFs
The value of assets managed by US ETF funds exceeded $215 billion, doubling in two years. In 2025 alone, these funds accumulated 279 tons of gold, putting the US ahead of European and Asian funds with combined assets of $199 billion.
The enormous interest is driven by a combination of economic uncertainty, geopolitical tensions, and the strongest growth in gold prices since the 1970s. The spot price is now hovering around $3,640 per ounce, just below the historic high of $3,673. Weaker labor market data is also raising expectations of an interest rate cut by the Federal Reserve, further boosting the appeal of precious metals.
Outlook and market impact
Analysts estimate that the price of gold could reach $3,900 per ounce over the next year. Strong demand from ETFs and macroeconomic uncertainty are the main pillars of this prediction. Gold thus confirms its role as an asset that retains its value even in times of increased volatility.
The growing interest is also reflected in the prices of other precious metals. Silver has strengthened to $42.26 per ounce—its highest value in 14 years—and platinum and palladium are also doing well. The entire sector is benefiting from expectations of lower interest rates, concerns about the stability of the financial system, and growing demand for hedging against inflation and political uncertainty. At the same time, the importance of gold in investment portfolios across continents is growing.
Investors are increasingly using it to diversify and protect against loss of purchasing power, while central banks are adjusting the rules for trading in this metal, which may further strengthen its liquidity and availability on the global market. In an environment of increased stock volatility and fluctuating bond yields, gold and other precious metals are gaining a reputation as a stable pillar of investment strategy with long-term potential.
