Gold has regained its mojo after a period of consolidation and now shows no signs of slowing down. Futures tied to the precious metal hit a high of $4,530.80 an ounce on Tuesday — the first time gold ever traded above $4,500. Gold has been one of the best-performing assets of 2025, soaring more than 71%, thanks to several tailwinds. These include a weaker dollar, lingering geopolitical tensions and rate cuts from the Federal Reserve. Now, the charts for the metal are indicating it will take another leg higher, according to Mark Newton, technical strategist at Fundstrat. @GC.1 YTD mountain Gold futures year to date “While Gold’s momentum remains quite stretched on a monthly basis when eyeing monthly [Relative Strength Index] levels above 90, there haven’t been sufficient reasons to consider abandoning a long stance except for the minor downturn that happened in October,” he wrote in a note to clients. “That has now been completely recouped, and I suspect that gold has further upside to $5,000 before this pulls back in 2026.” He added that seasonality is also in gold’s favor, noting that it’s historically done well in December. Newton isn’t alone in thinking gold’s momentum will continue. In fact, Bart Melek, global head of commodity strategy at TD Securities, said Monday he sees gold gaining steam in the first half of 2026. “We think that this trade based on lower fed funds [rates] … continues to happen,” he told CNBC’s ” Closing Bell: Overtime ” in an interview. For investors looking to play the breakout in gold, the easiest way is through exchange-traded funds such as the SPDR Gold Shares fund (GLD) . GLD, which tracks the price of gold charges 0.4% in fees. Investors can also gain exposure through the VanEck Gold Miners ETF (GDX) , which is up more than 165% in 2025, and the VanEck Junior Gold Miners ETF (GDXJ) , up 187% this year. Both have an expense ratio of 0.51%.
