iShares Gold Trust Shares of the iShares Gold Trust (ARCA: IAU)

Últimas noticias sobre iShares Gold Trust Shares of the iShares Gold Trust (ARCA:IAU)

The Trust seeks to reflect such performance before payment of the Trusts expenses and liabilities. It is not actively managed. The Trust does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of gold. The advisor intends to constitute a simple and cost-effective means of making an investment similar to an investment in gold. An investment in physical gold requires expensive and sometimes complicated arrangements in connection with the assay, transportation, warehousing and insurance of the metal.

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El oro seguirá subiendo en 2025, pero a un ritmo más lento. Descubre los factores clave detrás de su posible alza.

Los precios del oro podrían subir un 7% en 2025: ¿Qué factores impulsan este crecimiento?

iShares Gold Trust Shares of the iShares Gold Trust

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Gold surged past $3,100, setting a new intra-day high on Monday morning at $3,128 per ounce. Investors rush to safe-haven assets amid escalating trade tensions and uncertainty surrounding U.S. tariff policies, including President Donald Trump's proposed 25% tariffs on imported cars and auto parts and a new round of reciprocal tariffs set to<a target="_blank" href="https://www.benzinga.com/25/03/44502030/trump-may-slap-a-20-tariff-on-europe-yet-april-still-offers-rally-hopes-for-european-stocks" rel="noreferrer noopener"> take effect on April 2</a>.
"Tariff issues will continue driving (gold) prices higher until there is some finality to the tit-for-tat campaign," Edward Meier said per Reuters.
The yellow metal gained nearly 19% in 2025, propped by geopolitical concerns and central bank demand. Over the last 15 years, foreign ownership of US treasuries has converged with gold as a percent of central bank reserves. Treasury ownership sank from 25%, while gold reserves rose from 7% to reach the 15% mark.
As gold continues to break records, major financial institutions have revised their price forecasts upward. Goldman Sachs expects it to reach $3,300 per ounce by the end of the year, up from its previous target of $3,100.
Bank of America sees the yellow metal at <a target="_blank" href="https://www.benzinga.com/25/03/44499732/bank-of-america-sees-new-gold-as-a-buy-lifts-price-target-by-50" rel="noreferrer noopener">$3,063 per ounce in 2025 </a>and $3,350 per ounce in 2026, a significant increase from earlier projections of $2,750 and $2,625, respectively. Macquarie has similarly pointed to strong central bank demand and investor inflows as key drivers behind gold's bullish trend.
Despite silver's solid performance, it has not yet exceeded the high from last October, when it traded at $34.78 per ounce. The gold-to-silver ratio, a popular measure of metal's relative performance, has widened, reflecting gold's stronger momentum.
It now takes 91 ounces of silver to purchase one ounce of gold, suggesting <a target="_blank" href="https://www.benzinga.com/25/02/43615367/peter-schiff-predicts-silvers-explosive-catch-up-move-as-the-gold-to-silver-ratio-crosses-901-analysts-foresee-silver-prices-to-touch-38-in-2025" rel="noreferrer noopener">silver may be undervalued</a>. Historically, traders use this ratio to determine whether to favor gold or silver in their portfolios. When the ratio is high, some investors buy silver, expecting it to outperform gold in the future. Conversely, when the ratio is low, they may shift holdings into gold.
Still, pursuing this strategy doesn't require physical exchange and storage of metal. Trading the ratio is convenient through specialized ETFs that offer exposure to metals. SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) provide direct exposure to gold, while iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) is a popular option for silver investors. A trader would buy the gold ETF when the ratio is at the lower historical levels and eventually swap for a stake in silver when it gets high.
More aggressive strategies might employ leveraged ETFs like ProShares Ultra Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UGL#NYSE">UGL</a>) and ProShares Ultra Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGQ#NYSE">AGQ</a>), which correspond to double the daily performance of the underlying benchmark.
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44544885/record-high-gold-prices-start-to-scare-some-investors-as-inflation-anchor-crumbles" target="_blank" rel="noreferrer noopener">‘My Spidey Tingles' — Gold's Surge Has Some Investors On Edge</a></li>
</ul>
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Gold Surges Past $3,100 As Tariff Uncertainty Sets Silver Ratio Trade

<h3>Companies Reporting Before The Bell</h3>
• Curis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRIS#NASDAQ">CRIS</a>) is estimated to report quarterly loss at $1.36 per share on revenue of $2.69 million. 
• ProPhase Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRPH#NASDAQ">PRPH</a>) is likely to report quarterly loss at $0.24 per share on revenue of $3.77 million. 
• Synergy CHC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNYR#NASDAQ">SNYR</a>) is estimated to report quarterly earnings at $0.10 per share on revenue of $10.55 million. 
• Westport Fuel Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WPRT#NASDAQ">WPRT</a>) is estimated to report quarterly loss at $0.28 per share on revenue of $70.35 million. 
• Loar Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOAR#NYSE">LOAR</a>) is projected to report quarterly earnings at $0.11 per share on revenue of $102.51 million. 
• Brainstorm Cell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCLI#NASDAQ">BCLI</a>) is expected to report earnings for its fourth quarter. 
• Edible Garden (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDBL#NASDAQ">EDBL</a>) is estimated to report quarterly loss at $9.00 per share on revenue of $4.12 million. 
• Venus Concept (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) is likely to report quarterly earnings at $0.00 per share on revenue of $16.98 million. 
• Lazydays Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GORV#NASDAQ">GORV</a>) is expected to report earnings for its fourth quarter. 
• FTC Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTCI#NASDAQ">FTCI</a>) is projected to report quarterly loss at $0.84 per share on revenue of $11.61 million. 
• Sigma Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGML#NASDAQ">SGML</a>) is projected to report quarterly earnings at $0.06 per share on revenue of $77.16 million. 
• Workhorse Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>) is expected to report quarterly loss at $4.38 per share on revenue of $3.06 million. 
• LM Funding America (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LMFA#NASDAQ">LMFA</a>) is estimated to report quarterly loss at $1.67 per share on revenue of $1.50 million. 
• Data Storage (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTST#NASDAQ">DTST</a>) is estimated to report quarterly earnings at $0.03 per share on revenue of $6.20 million. 
• BioLine Rx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLRX#NASDAQ">BLRX</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $7.72 million. 
• IM Cannabis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMCC#NASDAQ">IMCC</a>) is estimated to report quarterly loss at $0.39 per share on revenue of $10.43 million. 
• LanzaTech Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNZA#NASDAQ">LNZA</a>) is expected to report quarterly loss at $0.14 per share on revenue of $23.55 million. 
• Palvella Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PVLA#NASDAQ">PVLA</a>) is likely to report earnings for its fourth quarter. 
• Nano X Imaging (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNOX#NASDAQ">NNOX</a>) is expected to report quarterly loss at $0.15 per share on revenue of $3.80 million. 
• Chicago Atlantic BDC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIEN#NASDAQ">LIEN</a>) is estimated to report quarterly earnings at $0.29 per share on revenue of $11.00 million. 
• BOS Better Online Solns (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOSC#NASDAQ">BOSC</a>) is likely to report earnings for its fourth quarter. 
<h3>Companies Reporting After The Bell</h3>
• T Stamp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDAI#NASDAQ">IDAI</a>) is projected to report quarterly loss at $1.80 per share on revenue of $510 thousand. 
• Local Bounti (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOCL#NYSE">LOCL</a>) is expected to report quarterly loss at $3.89 per share on revenue of $10.95 million. 
• Vivos Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VVOS#NASDAQ">VVOS</a>) is estimated to report quarterly loss at $0.43 per share on revenue of $3.89 million. 
• Siyata Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>) is projected to report earnings for its fourth quarter. 
• Open Lending (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPRO#NASDAQ">LPRO</a>) is estimated to report quarterly earnings at $0.02 per share on revenue of $24.03 million. 
• Nutex Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUTX#NASDAQ">NUTX</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $81.13 million. 
• Talphera (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLPH#NASDAQ">TLPH</a>) is expected to report earnings for its fourth quarter. 
• CXApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CXAI#NASDAQ">CXAI</a>) is likely to report quarterly earnings at $0.00 per share on revenue of $2.00 million. 
• Spire Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPIR#NYSE">SPIR</a>) is projected to report earnings for its fourth quarter. 
• Gorilla Tech Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRRR#NASDAQ">GRRR</a>) is projected to report earnings for its Fiscal Year 2024. 
• Spruce Power Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPRU#NYSE">SPRU</a>) is expected to report earnings for its fourth quarter. 
• Omeros (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMER#NASDAQ">OMER</a>) is estimated to report earnings for its fourth quarter. 
• Microvast Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVST#NASDAQ">MVST</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $92.50 million. 
• Gryphon Digital Mining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRYP#NASDAQ">GRYP</a>) is estimated to report quarterly loss at $0.16 per share on revenue of $3.90 million. 
• Red Cat Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) is projected to report quarterly loss at $0.09 per share on revenue of $7.49 million. 
• Digi Power X (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGXX#NASDAQ">DGXX</a>) is likely to report quarterly loss at $0.12 per share on revenue of $14.30 million. 
• Rani Therapeutics Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RANI#NASDAQ">RANI</a>) is projected to report earnings for its fourth quarter. 
• Nortech Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NSYS#NASDAQ">NSYS</a>) is likely to report earnings for its fourth quarter. 
• VolitionRX (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/VNRX#AMEX">VNRX</a>) is projected to report quarterly loss at $0.05 per share on revenue of $545 thousand. 
• iShares Gold Trust Shares of the iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) is projected to report quarterly loss at $0.02 per share on revenue of $37.70 million. 
• i-80 Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IAUX#AMEX">IAUX</a>) is projected to report earnings for its fourth quarter. 
• Sidus Space (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIDU#NASDAQ">SIDU</a>) is expected to report earnings for its fourth quarter. 
• Wrap Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRAP#NASDAQ">WRAP</a>) is likely to report earnings for its fourth quarter. 
• MDB Capital Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDBH#NASDAQ">MDBH</a>) is estimated to report earnings for its fourth quarter. 
• Duos Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOT#NASDAQ">DUOT</a>) is expected to report quarterly loss at $0.34 per share on revenue of $1.60 million. 
• Dare Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DARE#NASDAQ">DARE</a>) is likely to report quarterly loss at $0.63 per share on revenue of $1.00 million. 
• Celcuity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELC#NASDAQ">CELC</a>) is projected to report earnings for its fourth quarter. 
• CytoSorbents (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSO#NASDAQ">CTSO</a>) is likely to report quarterly loss at $0.07 per share on revenue of $9.43 million. 
• Venu Holding (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/VENU#AMEX">VENU</a>) is expected to report earnings for its fourth quarter. 
• Alpha Cognition (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACOG#NASDAQ">ACOG</a>) is estimated to report earnings for its fourth quarter. 
• ESS Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWH#NYSE">GWH</a>) is projected to report quarterly loss at $1.33 per share on revenue of $6.30 million. 
• Aqua Metals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AQMS#NASDAQ">AQMS</a>) is estimated to report earnings for its fourth quarter. 
• Nuvve Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVVE#NASDAQ">NVVE</a>) is projected to report earnings for its fourth quarter. 
• Expion360 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPON#NASDAQ">XPON</a>) is projected to report quarterly loss at $0.96 per share on revenue of $1.70 million. 
• CaliberCos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWD#NASDAQ">CWD</a>) is likely to report quarterly loss at $0.04 per share on revenue of $6.69 million. 
• Precipio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRPO#NASDAQ">PRPO</a>) is expected to report earnings for its fourth quarter. 
• Progress Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>) is projected to report quarterly earnings at $1.39 per share on revenue of $234.69 million. 
• PVH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) is likely to report quarterly earnings at $3.24 per share on revenue of $2.34 billion. 
• Invesco National AMT-Free Municipal Bond ETFo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PZA#NYSE">PZA</a>) is projected to report quarterly earnings at $0.25 per share on revenue of $168.10 million. 
• BioHarvest Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHST#NASDAQ">BHST</a>) is likely to report earnings for its fourth quarter. 
• Babcock &amp; Wilcox (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BW#NYSE">BW</a>) is projected to report quarterly loss at $0.01 per share on revenue of $212.30 million. 
• Bionano Genomics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNGO#NASDAQ">BNGO</a>) is expected to report quarterly loss at $8.40 per share on revenue of $6.30 million. 
• Innovate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VATE#NYSE">VATE</a>) is likely to report earnings for its fourth quarter. 
• TechTarget (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTGT#NASDAQ">TTGT</a>) is expected to report quarterly earnings at $0.45 per share on revenue of $62.37 million. 
• Rekor Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REKR#NASDAQ">REKR</a>) is expected to report quarterly loss at $0.08 per share on revenue of $12.91 million. 
• Flexible Solutions Intl (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FSI#AMEX">FSI</a>) is projected to report quarterly earnings at $0.09 per share on revenue of $10.83 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For March 31, 2025

Gold miners dominated <a target="_blank" href="https://www.benzinga.com/topic/mergers-and-acquisitions" rel="noreferrer noopener">mergers and acquisitions (M&amp;A) activity</a> in the metals and mining industry in 2024. Research by S&amp;P Global Market Intelligence found that yellow metal deals accounted for 70% of the total transaction value.
The <a target="_blank" href="https://www.spglobal.com/market-intelligence/en/news-insights/research/mining-mna-in-2024-gold-dominates-mna-space-for-2nd-consecutive-year" rel="noreferrer noopener">report</a> showed 62 gold-related transactions, compared to 47 in 2023, or a 32% growth. Although the overall deal value remained relatively close, at $26.36 billion, the $16.5 billion Newmont's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) acquisition of Newcrest was an outlier, skewing the numbers for the year before.
Most of 2024's M&amp;A occurred in two top jurisdictions, Australia and Canada. Gold's 27% surge in 2024 further incentivized acquisitions, while geopolitical risks, including the persisting conflict in Ukraine, tensions in the Middle East, and rising central bank purchases, encouraged expansions through acquisitions.
Northern Star Resources (OTCPK: NESRF) <a target="_blank" href="https://www.benzinga.com/24/12/42262825/northern-star-acquires-de-grey-for-33-billion-secures-promising-tier-1-asset" rel="noreferrer noopener">$3.26 billion acquisition</a> of De Grey Mining was the largest single transaction, consolidating ownership of one of Australia's most promising gold deposits. The number two spot went to AngloGold Ashanti's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40790433/anglogold-ashanti-to-acquire-centamin-for-2-5b-to-become-fourth-largest-gold-producer" rel="noreferrer noopener">$2.48 billion takeover</a> of Centamin, strengthening its African presence.
In contrast, despite copper's growing popularity, copper-focused M&amp;A was comparatively subdued, with 16 total deals amounting to $5.7 billion. The largest one was Lundin Mining and BHP's joint <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/40031488/bhp-to-unlock-south-american-copper-riches-partners-with-lundin-for-filo-acquisition" rel="noreferrer noopener">$3.03 billion acquisition</a> of Filo Corp. If BHP's <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/39068033/time-runs-out-for-bhp-deal-49-billion-acquisition-of-anglo-american-proves-too-complex-to-solve" rel="noreferrer noopener">$49 billion bid for </a><a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/39068033/time-runs-out-for-bhp-deal-49-billion-acquisition-of-anglo-american-proves-too-complex-to-solve" rel="noreferrer noopener">Anglo American</a> had succeeded, the situation would have been vastly different.
S&amp;P's report also highlighted that while overall deal value remained stable, the absence of a $10 billion-plus megadeal meant that the average transaction size fell to $428.1 million—the lowest in five years and a 24% decline from 2023.
Large miners like Newmont sold smaller portfolio parts, focusing on top assets. At the same time, intermediate producers sought those assets to pursue margin-boosting synergies and growth necessary to break into the big leagues of producing over 1 million ounces annually.
In 2025, S&amp;P predicts further positive momentum in gold M&amp;A as metal prices bid new highs. The sector has already seen notable activity in early 2025, including Equinox Gold's $1.87 billion bid for Calibre Mining. However, <a target="_blank" href="https://www.benzinga.com/25/03/44394574/the-largest-shareholder-opposes-equinoxs-18-billion-acquisition" rel="noreferrer noopener">opposition from Equinox's top shareholder</a>, Van Eck, raises questions about whether the deal will proceed. Van Eck, who holds significant stakes in both companies, cited a lack of operational synergies as a key concern.
Gold Fields'<a target="_blank" href="https://www.benzinga.com/25/03/44458684/gruyere-power-struggle-gold-fields-surprise-offer-rejected-countermove-denied" rel="noreferrer noopener"> $2.1 billion offer</a> for Gold Road Resources announced this week was rejected as "opportunistic," with Gold Road arguing it undervalued its assets. The deal would have given Gold Fields full control over the Gruyere gold mine, but Gold Road proposed buying out Gold Fields' stake—a counteroffer that was subsequently rejected.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/03/44481208/sandstorm-gold-shares-are-up-today-whats-going-on" target="_blank" rel="noreferrer noopener">Sandstorm Gold Shares Are Up Today: What's Going On?</a></li>
</ul>
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Gold M&A Deals Are Accelerating, But Average Deals Are Smaller, Research Shows

Equinox Gold's (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EQX#AMEX">EQX</a>) <a target="_blank" href="https://www.benzinga.com/news/legal/25/02/43938698/equinox-gold-buys-calibre-mining-for-1-8-billion-creating-canadas-second-largest-gold-producer" rel="noreferrer noopener">$1.8 billion acquisition</a> of Calibre Mining (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXBMF#OTC">CXBMF</a>) has hit a hurdle. A top shareholder in both companies publicly opposed the plan, citing synergy concerns.
"We are not supportive of this transaction. We don't see any synergies between any of the companies' operations," Imaru Casanova, a portfolio manager at Van Eck, said <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-03-18/top-calibre-investor-opposes-equinox-s-1-8-billion-takeover-bid" rel="noreferrer noopener">per</a> Bloomberg's report on Tuesday.
"Both operate in the Americas, but in vastly different locations," she clarified, arguing that the deal dilutes Calibre's quality and potential, particularly as the company advances its flagship Valentine project in Canada.
According to Bloomberg, Van Eck is the largest Calibre shareholder, holding an 8.52% stake, and the second-largest Equinox shareholder, with an 8.86%.
Equinox announced the all-stock acquisition of Calibre last month as part of its strategy to consolidate gold assets and boost annual production. Equinox operates across Canada, Mexico, Brazil, and the United States, while Calibre's assets are primarily located in the United States and Nicaragua, Bloomberg writes.
Under the proposed structure, Calibre shareholders would receive shares of Equinox instead of cash at a 22% premium. The merger aims to create a mid-tier gold producer with a combined annual output of approximately 1.2 million ounces, placing it among the top 15 global producers.
The deal-making activity is unsurprising given the record-high gold prices, which have encouraged miners to expand. Gold broke the <a target="_blank" href="https://www.benzinga.com/25/03/44325928/gold-smashes-through-3000-mark-as-markets-brace-for-turbulence-and-fed-signals" rel="noreferrer noopener">milestone price of $3,000</a> per ounce last week, driven by central bank purchases and investor demand for safe-haven assets.
Jeffrey Gundlach, CEO of DoubleLine, recently predicted that gold could reach $4,000 per ounce, citing the sharp increase in central bank buying and ongoing geopolitical risks. Meanwhile, analysts at Macquarie have raised their price target to $3,500 per ounce by the third quarter of 2025.
With gold outperforming in 2024, Equinox reported a record year. It produced 621,893 ounces of gold and generated $1.5 billion in revenue, with an operating cash flow of $430 million. Looking ahead to 2025, Equinox expects to produce between 635,000 and 750,000 ounces, with an all-in-sustaining cost (AISC) between $1,455 and $1,550 per ounce.
Thus, even using the upper AISC estimate and assuming an average realized price of $3,000 per ounce, Equinox would generate around $1.1 billion in gross profit, maintaining last year's production level, making a good acquisition a lucrative proposal.
Still, given the lack of geographical proximity to unlock the synergies, Van Eck's opposition might shape investor sentiment, as approval requires support from two-thirds of both companies' shareholders.
Price Watch: VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) is up 32.81% year-to-date.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/03/44335436/gold-etfs-shine-as-spot-price-tops-3000-during-safe-haven-demand" target="_blank" rel="noreferrer noopener">Gold ETFs Shine As Spot Price Tops $3,000 During Safe-Haven Demand</a></li>
</ul>
Image via Shutterstock

Equities

Guidance

CXBMF

Market Vectors ETF Trust Market Vectors Gold Miners

Calibre Mining's Largest Shareholder Opposes Equinox's $1.8 Billion Acquisition

With market concentration concerns rising, investors are hunting for "diversification without sacrificing growth." Enter <a href="https://www.benzinga.com/topic/gold">gold &#8211; the precious metal</a> that has already smashed past $3,000 per ounce and could be heading even higher.
Gold's 2024 run has been nothing short of spectacular. The gold-tracking SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) is up about 40% over the past year. 
During an exclusive interview with Benzinga, Violeta Todorova, senior research analyst at Leverage Shares, said that the momentum is not slowing down anytime soon. "With a confluence of favourable factors such as monetary easing, central bank buying, geopolitical tensions, inflationary pressures, and strong physical demand—the outlook for gold remains strong."
Read Also: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/03/44335436/gold-etfs-shine-as-spot-price-tops-3000-during-safe-haven-demand">Gold ETFs Shine As Spot Price Tops $3,000 During Safe-Haven Demand</a>
<h2 class="wp-block-heading">Can Gold Hit $3,500 In 2025?</h2>
While equity markets remain volatile, gold's safe-haven appeal continues to strengthen. Todorova sees multiple catalysts for further gains. "Amid the uncertainties of 2025, gold is likely to remain a cornerstone of wealth preservation and portfolio diversification." 
And just how high can it go? "The precious metal is likely to extend its rally to $3,500 per ounce; however, it could reach higher levels by the end of the year," she told Benzinga.
Meanwhile, gold ETFs are set to benefit as investors seek protection from ongoing market swings. Todorova expects "increased inflows" into gold funds as more investors turn to safety plays. The GLD, the iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) and the SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>) offer exposure to gold.
<h2 class="wp-block-heading">The Bigger Picture for Investors</h2>
With uncertainty gripping the market, investors are reevaluating their portfolios. While tech stocks have driven past bull markets, gold's latest surge suggests a shift in sentiment. The GLD is already up 13.82% YTD, the IAU has gained 13.85% and the GLDM has gained 13.87% so far this year.
As 2025 unfolds, the question isn't just whether gold will hit $3,500 &#8211; it's whether investors will pivot in time to ride the wave.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44148667/a-benzinga-debate-on-federal-reserve-assets-our-contributors-speak-on-gold-bitcoin">Gold vs. Bitcoin: Which Is The Better Reserve Asset And Why? Experts Weigh In&#8230;</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Long Ideas

Exclusives

Analyst Ratings

Trading Ideas

Interview

EXCLUSIVE: Expert Sees Gold At $3,500 As Rally Picks Up Steam, 'Diversification Without Sacrificing Growth' She Says

Gold hit a fresh record high on Thursday, with spot gold <a href="https://www.benzinga.com/25/03/44325928/gold-smashes-through-3000-mark-as-markets-brace-for-turbulence-and-fed-signals">crossing $3,000 per ounce</a>, up 1.8%. It has surged 13% in 2025, outperforming all major asset classes. On Friday, spot gold pared some of the gains and was trading at $2,982.73 as of 11:50 a.m. EST.
Needless to say, <a href="https://www.benzinga.com/etfs">gold ETFs</a>, which offer investors exposure to gold without owning the metal, have gained from this rally. Some top-performing gold ETFs include:
SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>): Tracks spot gold prices closely and has an expense ratio of 0.4%. It has risen 12% year-to-date, illustrating the strong demand for gold as a safe-haven asset.
iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>): Follows the performance of the price of gold bullion. It carries an expense ratio of 0.25%. The ETF has climbed 12% YTD, closely mirroring gold's price action.
VanEck Vectors Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>): Focuses on gold mining stocks and carries an expense ratio of 0.5%. The ETF has gained 23.5% YTD, benefiting from rising gold prices and improved miner profitability.
VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>): Targets smaller, high-growth mining firms. The ETF has surged 22.8% YTD as speculative interest in smaller miners has picked up.
Also Read: <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44331708/billionaire-hedge-funder-adds-mining-stocks-before-gold-makes-record-highs-gold-will-go-up-paulson-says">Billionaire Hedge Funder Adds Mining Stocks Before Gold Makes Record-Highs: &#8216;Gold Will Go Up,&#8217; Paulson Says</a>
<h1 class="wp-block-heading">Surging Gold ETF Inflows</h1>
Investor interest in gold ETFs is on the rise. The World Gold Council <a href="https://www.gold.org/goldhub/research/gold-etfs-holdings-and-flows/2025/03">reported </a>recently that global physically-backed gold ETFs saw $9.4 billion in inflows in February, the highest since March 2022. This marks three consecutive months of strong inflows, pushing total assets under management (AUM) to $306 billion. Holdings have also risen to 3,353 tonnes, the highest since July 2023. 
North American flows rebounded after two months of outflows, while Asian demand remained strong and European inflows narrowed. 
<h1 class="wp-block-heading">Why Is Gold Soaring?</h1>
Simply, economic uncertainty and geopolitical risks are driving gold's rally.
President Donald Trump's administration has reignited trade war fears by threatening tariffs. The <a href="https://www.benzinga.com/government/regulations/25/03/44308014/gold-hits-record-highs-as-trade-war-fears-fuel-safe-haven-demand-mining-stocks-soar">Atlanta Federal Reserve's GDPNow model projects</a> a 2.4% contraction for the U.S. economy in the first quarter of 2025, and JPMorgan raised the probability of a recession to 40%.
A key unknown factor is also influencing gold prices. 
"A large and unknown player is driving gold's recent rally," said Ross Norman, CEO of Metals Daily Ltd., speculating that this could explain the unusual movements in gold prices.
Macquarie Group analysts are bullish, forecasting gold at $3,500 per ounce by the third quarter. "We view gold's price strength to date, and our expectation for it to continue, as primarily being driven by investors' and official institutions' greater willingness to pay for its lack of credit or counterparty risk," Macquarie wrote.
With trade tensions, recession fears and global uncertainty, demand for gold, and naturally, gold ETFs, is expected to stay strong. As price targets rise, investors seeking a hedge against volatility may find gold ETFs a compelling option.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/03/44332599/exclusive-what-industry-experts-are-saying-about-the-openai-oracle-nvidias-100b-stargate-project-etfs-that-stand-">Exclusive: What Industry Experts Are Saying About OpenAI-Oracle-Nvidia&#8217;s $100-Billion Stargate Project &amp; ETFs That Stand To Gain</a></li>
</ul>
Photo: Shutterstock

GDXJ

Gold ETFs Shine As Spot Price Tops $3,000 During Safe-Haven Demand

With President Donald Trump's trade war rhetoric reaching new heights, <a href="https://www.benzinga.com/topic/gold">gold has emerged</a> as the go-to asset for savvy investors. 
Its 7% surge since his inauguration and <a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43728557/time-to-lock-in-gold-gains">recent record highs</a> make it the ultimate "Trump trade" of 2025. But for U.S. investors, this golden rally presents a unique opportunity to profit, not just from the metal itself but from a selection of stocks and ETFs poised to benefit.
<h2 class="wp-block-heading">Gold's Bullish Surge: Why It's Happening</h2>
Gold's rally isn't just fueled by political uncertainty. Trump's aggressive tariff policies are creating inflationary pressures, and as global growth slows, gold acts as a safe-haven. 
Central banks and traders are shifting their focus to the yellow metal, further driving up its value. 
Analysts are now targeting $3,000 per ounce, with UBS and Citigroup revising their forecasts upward, <a href="https://www.ft.com/content/fb53df86-c6f0-4550-ab84-222b3a6282f4">reported</a> Financial Times.
Read Also: <a href="https://www.benzinga.com/25/02/43710503/bank-of-america-sees-gold-hitting-3500-as-demand-surges-on-increased-policy-tensions">Gold Could Reach $3,500 As Demand Rises On &#8216;Increased Policy Tensions,&#8217; Says Bank of America</a>
<h2 class="wp-block-heading">Top Gold ETFs To Consider</h2>
For those looking to capitalize on gold's rally without holding the physical asset, ETFs offer a convenient route:
<ul>
<li>SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>): The largest gold ETF in the world, GLD tracks the price of gold bullion and is a reliable option for investors looking to ride the surge.</li>
<li>iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>): Another solid choice, IAU provides a lower-cost way to gain exposure to gold's movements.</li>
<li>VanEck Vectors Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>): GDX targets gold mining companies, which are expected to see growth as gold prices rise.</li>
</ul>
<h2 class="wp-block-heading">Gold Stocks Set To Benefit From Trump Trade</h2>
For those willing to venture into individual stocks, gold mining companies offer an even more leveraged play on the precious metal's climb:
<ul>
<li>Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>): The world's second-largest gold miner, Barrick is benefiting from the surge in gold prices, with strong earnings expected to follow.</li>
<li>Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>): As the largest gold producer in the U.S., Newmont stands to profit from the rising price of gold and growing demand for safe-haven assets.</li>
<li>Kinross Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>): Another player to watch, Kinross has seen its stock price benefit from higher gold prices, making it a solid addition to the gold-investment portfolio.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/news/earnings/earnings-beats/25/02/43689153/kinross-gold-delivers-record-breaking-2024-reaffirms-stable-production-output">Kinross Gold Delivers Record-Breaking 2024, Reaffirms Stable Production Output</a>
<h2 class="wp-block-heading">Takeaway For U.S. Investors</h2>
Gold's status as the ultimate hedge against trade tensions and inflation means U.S. investors should be taking a closer look at gold stocks and ETFs. 
With gold prices expected to continue rising, these assets offer an opportunity to capitalize on what looks to be a long-term trend.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/02/43672890/barrick-gold-shares-gain-after-q4-earnings-and-new-1-billion-buyback-program">Barrick Gold Shares Gain After Q4 Earnings And New $1 Billion Buyback Program</a></li>
</ul>
Image: Shutterstock

Gold Soars as 'Trump Trade' of 2025: What Investors Should Know

<a href="https://www.benzinga.com/topic/gold">Gold prices surged</a> to near three-month highs this week, with spot gold reaching $2,755.2 per ounce on Jan. 22, just below its record peak of $2,790.15 from Oct. 31, 2024.
What Happened: As President Donald Trump's tariff announcements reverberate through global markets, gold, often seen as a safe haven during uncertain times, has reclaimed the spotlight. Two of the <a href="https://www.benzinga.com/etfs">most prominent ETFs</a>, SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) offer exposure to gold with different features to suit various investor profiles.
Both ETFs use the same benchmark: the LBMA (London Bullion Market Association) Gold Market Fixing Price PM Index.
The SPDR Gold Shares ETF is priced at around $244 per share with a 0.40% expense ratio. The ETF appeals to investors seeking high liquidity and trust in a well-established product. Trading volume of the ETF is hefty, making it especially attractive for frequent traders. However, its higher expense ratio and market price may deter cost-conscious retail investors.
The iShares Gold Trust ETF, on the other hand, is priced at around $50 per share with a lower 0.25% expense ratio. It offers a more economical entry point for gold investors. Although no match for GLD&#8217;s trading volume, IAU is still highly liquid and considered a viable choice for retail investors.
See Also: <a href="https://www.benzinga.com/news/large-cap/25/01/43137560/golds-blowout-rally-puts-spotlight-on-miners-will-they-finally-catch-up">Gold&#8217;s Blowout Rally Puts Spotlight On Miners: Will They Finally Catch Up?</a> 
Why It Matters: The rally is fueled by a weaker dollar and growing uncertainty surrounding Trump's proposed policies, including sweeping tariffs. Some investors fear his decisions will trigger trade wars and heighten market volatility.
Gold, as ever, remains a safe bet for risk-averse investors. While physical bullion remains a traditional choice, its limitations— such as storage costs, premiums, and liquidity challenges — make gold ETFs a more practical alternative for modern investors.
Although gold prices pulled back slightly today, it is possible that this is due to traders booking profits after the sharp ascent, and the movement is still bullish for the metal.
A walk down the memory lane shows us that gold has historically thrived during Trump&#8217;s presidency. When he assumed office in 2017, gold prices were near $1,200 per ounce, soaring to $1,957 per ounce by January 2021, as pointed out in a report in FXEmpire.
Now, in Trump's second term, the &#8220;Tariff Man&#8221; — a self-proclamation he made during his first term — is <a href="https://www.benzinga.com/government/regulations/25/01/43162941/trumps-second-term-sparks-market-jitters-with-trade-regulation-expansion-plans">introducing aggressive policies</a>, further stoking uncertainty. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#8230;.I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1069970500535902208?ref_src=twsrc%5Etfw">December 4, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
His proposals to impose 25% tariffs on Mexico and Canada by Feb. 1 and to levy a <a href="https://www.benzinga.com/etfs/emerging-market-etfs/25/01/43130930/trump-looking-at-10-tariff-on-china-starting-feb-1">10% tariff on Chinese imports</a> could impact global trade dynamics.
Just an example of why the markets are volatile, Canada is one of the world's largest producers of gold and a GSC Commodity Intelligence study revealed that the U.S. is the world&#8217;s largest importer of Canadian gold. A 25% tariff on imports from Canada might impact overall U.S. imports. See Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/emerging-market-etfs/25/01/43159032/defiance-quantum-etf-hits-1-billion-milestone-as-ceo-talks-future-of-industry">Defiance Quantum ETF Hits $1 Billion Milestone As CEO Talks Future Of Industry</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

SPDR Gold Shares Vs. iShares Gold Trust: Two Shiny ETFs In Focus As 'Tariff Man' Trump Fuels Uncertainty

Goldman Sachs has postponed its projection for gold prices to hit $3,000 per ounce, shifting the timeline from early 2026 to mid-2026. The investment bank adjusted its expectations from the Federal Reserve, as tighter-than-expected monetary policy would influence <a target="_blank" href="https://www.benzinga.com/topic/gold" rel="noreferrer noopener">gold prices</a>.
Goldman analysts Lina Thomas and Daan Struyven forecast gold to reach $2,910 per ounce by the end of the year. The bank's economists now anticipate 75 basis points of rate cuts in 2025, down from the previously expected 100 basis points.
"Opposing forces — lower speculative demand and structurally higher central bank buying — have effectively offset each other, keeping gold prices range-bound over the past few months," they said in a note per Bloomberg's <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-01-06/goldman-pushes-back-3-000-gold-forecast-on-fewer-us-rate-cuts" rel="noreferrer noopener">report</a>, attributing the long-term demand to central banks buying appetite.
"Looking ahead, we forecast monthly purchases to average 38 tons through mid-2026," they stated.
Gold delivered a <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/12/42502069/gold-poised-for-its-best-year-in-a-decade-while-bitcoin-surges-analysts-eye-2025-as-a-golden-era-for-precious-metal-amid-michael-saylors-push-for-btc-as-a-reserve-asset" rel="noreferrer noopener">robust performance</a> in 2024, gaining 27% due to monetary easing, central bank purchases, and lingering inflation fears. However, the rally lost momentum in late 2024 as the U.S. dollar strengthened following the election-driven optimism.
Still, the U.S. is finding other ways to take advantage of higher-for-longer gold prices. President Joe Biden just approved the final permit for the Stibnite Project in Idaho, a mining initiative led by Perpetua Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPTA#NASDAQ">PPTA</a>) and backed by billionaire investor John Paulson.
This project could supply more than 35% of the U.S. demand for antimony, a critical mineral essential for solar panels, flame retardants and military equipment, while also producing around 450,000 ounces of gold annually.
Although the project cost around $1.3 billion in 2020, the final number will be higher. Accounted reserves include 148 million pounds of antimony and 6 million ounces of gold, and production is set for 2028.
Antimony prices surged in 2024, rising over 200% and over 40% in a single day after China issued an <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/12/42294914/mp-materials-are-on-the-rise-today-whats-going-on" rel="noreferrer noopener">export ban</a> on December 3.&nbsp;However, extreme price volatility and control over the market (China accounted for 48% of<a target="_blank" href="https://www.csis.org/analysis/chinas-antimony-export-restrictions-impact-us-national-security" rel="noreferrer noopener"> global production</a> and 63% of U.S. imports in 2023) are risky for producers.
Thus, the dual output of gold and antimony offers financial resilience, reducing dependence and insulating the project from external price fluctuations.&nbsp;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/42783039/kobold-metals-raises-537-million-targets-going-public-within-a-few-years" target="_blank" rel="noreferrer noopener">Bill Gates And Jeff Bezos Backed Mining Startup Raises $537 Million, Targets Going Public In Few Years</a></li>
</ul>
Image via Shutterstock

Regulations

Price Target

AAAU

IAUM

PPTA

Goldman Sachs Delays $3,000 Gold Forecast, Sees Fewer Rate Cuts In 2025

Rolex SA, the Swiss luxury watchmaker, has raised prices on several of its models following an upswing in gold prices in 2024, <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-01-02/rolex-kicks-off-2025-by-hiking-watch-prices-after-gold-soars?srnd=phx-industries&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a> reported.
According to the report, the price of the yellow gold Day-Date and yellow gold GMT-Master II has increased by almost 8% to 44,200 euros and 44,600 euros, respectively.
The price hikes follow gold&#8217;s remarkable 27% gain in 2024, reflecting its role as a safe-haven asset that remains prominent amid global economic uncertainties and geopolitical tensions.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/12/42666501/starbucks-faces-major-strike-on-christmas-eve-300-locations-affected-as-5000-workers-walk-out" rel="noreferrer noopener">Starbucks Faces Major Strike On Christmas Eve: 300+ Locations Affected As 5,000 Workers Walk Out</a>
While Rolex traditionally adjusts prices at the beginning of the year, this year&#8217;s changes surpass the 4% increases seen for some of its models in the beginning of 2024, Bloomberg noted.
According to a report, the gold prices are expected to continue their upward trajectory and reach $2,795 per troy ounce by the end of 2025, a <a target="_blank" href="https://www.benzinga.com/markets/commodities/25/01/42759408/gold-prices-to-climb-7-in-2025-amid-trumps-return-to-white-house-and-geopolitical-tensions-momentum-is-taking-back-over" rel="noreferrer noopener">7% increase from current levels</a>.
Central banks are likely to drive demand as they diversify reserves in the midst of geopolitical uncertainties.
Key drivers of the expected increase include central banks&#8217; diversification away from the U.S. dollar following sanctions on Russia, anticipated interest rate cuts by the U.S. Federal Reserve, and rising concerns about U.S. <a target="_blank" href="https://www.benzinga.com/24/12/42594797/trump-wants-to-get-rid-of-the-debt-ceiling-30-year-treasury-bonds-fall-to-2024-lows-stocks-cut-gains" rel="noreferrer noopener">government debt</a> under President-elect&nbsp;Donald Trump.
As per&nbsp;<a target="_blank" href="https://pro.benzinga.com/" rel="noreferrer noopener">Benzinga Pro</a>, gold ETFs have increased in the past year as of Tuesday, 31st Dec.&nbsp;SPDR&nbsp;Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) was up by 26.85%,&nbsp;iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) rose by 26.85%, and&nbsp;abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) was up by 26.90%.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42729529/social-media-stocks-react-as-trump-targets-censorship-and-delays-tiktok-ban" target="_blank" rel="noreferrer noopener">Trump Administration to Challenge Social Media Censorship, Setting Stage for Conflict with EU Regulations</a></li>
</ul>
Photo by panlertb via Shutterstock

Gold Price Surge Pushes Rolex to Raise Prices for Iconic Watches

Gold prices are expected to continue their upward trajectory in 2025, though at a slower pace compared to last year's remarkable 27% rally. Analysts anticipate a 7% increase from current levels by the end of the year, signaling a more moderate yet steady rise.
What Happened: Wall Street analysts project that gold prices will climb to about $2,795 per troy ounce by the end of 2025, a 7% increase from current levels, Financial Times <a href="https://www.ft.com/content/9fa96c1d-03f2-4d25-9644-b29ae19407aa">reported</a> on Thursday. This forecast comes on the heels of significant central bank purchases, which saw global institutions buy 694 tonnes of gold in the first nine months of 2024.
Key drivers of the expected increase include central banks' diversification away from the U.S. dollar following sanctions on Russia, anticipated interest rate cuts by the U.S. Federal Reserve, and rising concerns about U.S. government debt under President-elect Donald Trump.
Henrik Marx, global head of trading at Heraeus Precious Metals, said, &#8220;Whatever he announces will increase debt, leading to a weaker dollar and increased inflation. That is usually a nice mixture for gold."
 Geopolitical tensions in the Middle East and Ukraine are also contributing to the bullish outlook for gold.
See Also: <a href="https://www.benzinga.com/tech/25/01/42757901/elon-musk-fireworks-or-explosive-device-caused-fatal-cybertruck-incident-at-las-vegas-trump-hotel-vehicle-was-rented">Elon Musk: Fireworks Or Explosive Device Caused Fatal Cybertruck Incident At Las Vegas Trump Hotel; Vehicle Was Rented</a>
Notably, Goldman Sachs has issued the most optimistic forecast, expecting prices to hit $3,000 per troy ounce by year's end. Meanwhile, Barclays and Macquarie have issued more conservative projections, predicting a drop to approximately $2,500 per troy ounce, a 4% decline from current levels. 
"Momentum is taking back over, combined with geopolitical tensions, which is going to add more fuel to the fire," said Michael Haigh, head of commodities research at Société Générale. Haigh predicts that gold prices could reach $2,900 per troy ounce by the end of 2025.
Why It Matters: Gold's role as a safe-haven asset remains prominent amid global economic uncertainties and geopolitical tensions. Central banks have been increasingly diversifying their reserves, moving away from the dollar to mitigate risks. The World Gold Council has described this year's growth as "positive but much more modest" compared to 2024.
However, the rise of alternative assets like Bitcoin ETFs is also reshaping the investment landscape. Investors are exploring new <a href="https://www.benzinga.com/etfs/currency-etfs/24/12/42750554/golds-shine-fades-as-bitcoin-etfs-rise-the-new-safe-haven-champion">safe-haven options</a>, potentially challenging gold's dominance in this space. The interplay between traditional and emerging assets will be a critical trend to watch in 2025.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, gold ETFs have increased in the past one year, as of Tuesday, 31st Dec. SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) was up by 26.85%, iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) was rose by 26.85% and abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) was up by 26.90%. Meanwhile, Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) fell by 14.32% over the year, Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) dropped by 10% while Royal Gold, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>) increased by 9%.
Read Also: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/01/42757978/bitcoin-ethereum-dogecoin-begin-new-year-on-a-healthy-note-analyst-says-this-blue-chip-crypto-can-witness-good-amount-of-action-in-early-2025">Bitcoin, Ethereum, Dogecoin Begin New Year On A Healthy Note: Analyst Says This Blue Chip Crypto Can Witness &#8216;Good Amount Of Action&#8217; In Early 2025</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Gold Prices To Climb 7% In 2025 Amid Trump's Return To White House And Geopolitical Tensions: 'Momentum Is Taking Back Over'

For decades, gold has been the go-to choice for safe investing. Whatever the condition of the economy, investors relied on the yellow metal as the ultimate store of value. This has not changed and people have always used it to store value, no matter the economy&#8217;s condition or the stability of <a href="https://www.benzinga.com/markets">the markets</a>.
The landscape is shifting. Gold may face strong competition from Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), particularly through Bitcoin-focused exchange-traded funds. The competition has perhaps been best illustrated through the iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>).
<h4 class="wp-block-heading">The Rise Of IBIT</h4>
IBIT was launched in January 2024 and in under a year, it has grossed almost $50 billion in assets under management.
This steep climb is not only remarkable, but unprecedented. The Bitcoin Investment Trust&#8217;s asset management business surpassed the established leaders in the market: BlackRock's iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) and the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), which is the largest gold ETF globally. This milestone makes one thing clear: Bitcoin is no longer viewed as just another speculative bubble.
See Also: <a href="https://www.benzinga.com/24/12/42737368/blackrocks-bitcoin-fund-breaks-records-with-historic-etf-launchwill-it-surpass-the-worlds-biggest-gold-etf-in-january">Blackrock&#8217;s Bitcoin Fund Breaks Records With Historic ETF Launch—Will It Surpass The World&#8217;s Biggest Gold ETF In January?</a>
<h4 class="wp-block-heading">Shifting Preferences: The Role Of Younger Investors</h4>
Here's the thing: Bitcoin's rise isn't just about numbers; it's about people—specifically, younger investors. For millennials and Gen Z, Bitcoin represents more than just an asset. It's about decentralization, innovation, and staying ahead in a tech-driven world. Gold, on the other hand? Many in these generations see it as old-school.
"Younger investors see Bitcoin as ‘digital gold,' a natural evolution of what gold represented for previous generations," Nate Geraci, president of The ETF Store, <a href="https://www.bloomberg.com/news/articles/2024-12-30/blackrock-s-bitcoin-fund-became-greatest-launch-in-etf-history?embedded-checkout=true">told </a>Bloomberg. "The ease of trading Bitcoin ETFs and the high returns they've delivered have only solidified their appeal."
<h4 class="wp-block-heading">Bitcoin's Growing Utility As Store Of Value</h4>
Let's talk about why Bitcoin is pulling ahead. Unlike gold, Bitcoin has a finite supply of 21 million coins, which adds to its appeal as a store of value. And with ETFs like IBIT, Bitcoin has become accessible to both retail and institutional investors.
Compare that to gold. While it's a proven store of value, its physical nature poses challenges like storage and transportation. In a fast-paced, digital-first investment world, those can feel like big drawbacks.
Interestingly, the Bitcoin-to-gold ratio, which compares Bitcoin's value to an ounce of gold, reached an all-time high of 40 on Dec. 16. This highlights Bitcoin's increasing price, which recently crossed $108,000, while gold remains around $2,650 per ounce. The ratio underscores Bitcoin's growing prominence as a financial asset and its ability to challenge gold's traditional role as a safe haven.
<h4 class="wp-block-heading">The Ripple Effect On Gold ETFs</h4>
This isn't to say gold ETFs are losing their shine entirely. They're still a staple for many portfolios. But the numbers tell a story: Bitcoin-focused ETFs like IBIT and Fidelity's offering are starting to attract more net inflows than traditional gold funds.
If the trend continues, analysts predict IBIT could soon rival — or even surpass — GLD in AUM. That would be a seismic shift in the hierarchy of safe-haven investments.
<h4 class="wp-block-heading">What the Future Holds For Safe-Haven Investing</h4>
So, what's next? The competition between Bitcoin and gold ETFs marks a pivotal moment in investing. Gold's legacy ensures it'll remain relevant, but Bitcoin's rapid adoption shows that digital assets are becoming a cornerstone of modern portfolios.
The approval of Bitcoin spot ETFs in 2024 has further signaled regulatory acceptance, setting the stage for future crypto products. "Younger investors want assets that align with their digital-first lifestyles," says Geraci. "As Bitcoin becomes more mainstream, its role as a safe-haven asset will only grow."
For now, the rivalry between Bitcoin and gold is about more than just returns. It's a battle between tradition and innovation, one that's shaping the future of investing in real-time.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/previews/24/12/42745852/tesla-q4-delivery-preview-will-2024-stock-gains-hold-as-growth-slows">Tesla Q4 Delivery Preview: Will 2024 Stock Gains Hold As Growth Slows?</a></li>
</ul>
Photo: Shutterstock.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

New ETFs

Currency ETFs

$BTC

IBIT

Gold's Shine Fades As Bitcoin ETFs Rise: The New Safe-Haven Champion?

The iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) by&nbsp;BlackRock Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), which debuted earlier this year, has become the most successful exchange-traded fund launch in history, a report said Monday.
What Happened:&nbsp;The investment vehicle, which tracks the spot price of the world&#8217;s biggest cryptocurrency Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), exceeded $50 billion in assets under management within its debut year, an unprecedented feat in the 30-year history of ETFs, <a href="https://www.bloomberg.com/news/articles/2024-12-30/blackrock-s-bitcoin-fund-became-greatest-launch-in-etf-history">according </a>to Bloomberg. 
IBIT clocked the $50 billion mark five times faster than the next quickest ETF, BlackRock&#8217;s&nbsp;own iShares Core MSCI EAFE&nbsp;ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEFA#BATS">IEFA</a>), which took nearly four&nbsp;years to achieve the same&nbsp;milestone, Bloomberg ETF&nbsp;analyst Eric Balchunas stated recently.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> is now over $50b. It took it 228 days to reach this milestone, the next fastest ETF to reach 50b was <a href="https://twitter.com/search?q=%24IEFA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IEFA</a> in 1,329 days. So over 5x faster than any ETF ever launched. Ridiculous. h/t <a href="https://twitter.com/JackiWang17?ref_src=twsrc%5Etfw">@JackiWang17</a> for the data <a href="https://t.co/K9vRfAir8U">https://t.co/K9vRfAir8U</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1864476749792166370?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
IBIT also held more assets than BlackRock&#8217;s Gold ETF, namely, iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), as of this writing. Balchunas saw a strong possibility of IBIT beating SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), the world&#8217;s biggest gold ETF, as early as Jan. 11 to become the &#8220;king of store of value ETFs.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">And near lock that <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> passes <a href="https://twitter.com/search?q=%24GLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GLD</a> as the king of store of value ETFs, curr has 78% of GLD&#39;s assets, there&#39;s even outside chance it does it by Jan 11th within its first year. Another crazy feat a la this fastest ETFs to $50b chart: <a href="https://t.co/lkvRKv5lOB">pic.twitter.com/lkvRKv5lOB</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1869734468048900448?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42735623/trump-backed-platforms-pick-years-chart-topper-6-new-cryptos-added-to-grayscales-top-20-list-with-growth-potential-in-q1-2025">Trump-Backed Platform&#8217;s Pick, Year&#8217;s Chart Topper: 6 New Cryptos Added To Grayscale&#8217;s &#8216;Top 20&#8217; List With Growth Potential In Q1 2025</a>
Why It Matters:&nbsp;This record-breaking performance by IBIT occurred in a momentous year when spot cryptocurrency ETFs made their debut on Wall Street. 
As many as 12 spot ETFs were listed early in January, <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42715516/from-trumps-win-to-debut-of-spot-etfs-these-were-the-biggest-bullish-catalysts-for-bitcoin-in-2024">serving as key drivers</a> for Bitcoin&#8217;s record surge beyond $100,000. 
While still far behind, Balchunas felt <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42666635/blackrocks-bitcoin-etf-could-outshine-sp-500-tracking-spy-to-become-top-investment-vehicle-but-it-will-take-a-long-time-says-prominent-analyst">IBIT could exceed</a> SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the oldest and largest ETF in the U.S. with $637 billion in AUM, but warned that the process would take time.
Price Action: Shares of IBIT closed 0.24% lower at $53.55 during Monday's regular session, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. As of this writing, Bitcoin exchanged hands at $93,940.67, up 0.22% in the last 24 hours.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42736733/nba-star-scottie-pippens-satoshi-nakamoto-delivered-bitcoin-forecasts-have-been-fairly-accurate-says-financial-analyst">NBA Star Scottie Pippen&#8217;s &#8216;Satoshi Nakamoto-Delivered&#8217; Bitcoin Forecasts Fairly Accurate, Says Financial Analyst</a></li>
</ul>
Photo courtesy: Shutterstock

IEFA

Blackrock's Bitcoin Fund Breaks Records With Historic ETF Launch—Will It Surpass The World's Biggest Gold ETF In January?

As the global commodity market braces for a challenging 2025,&nbsp;ING Group NV&nbsp;forecasts a bullish outlook for gold amid potential trade tensions between the U.S. and China.
What Happened: ING Group NV&nbsp;anticipates a difficult year for commodities in 2025, driven by possible trade tensions between the United States and China. Despite this, gold is expected to maintain its status as a safe haven, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-12/gold-will-shine-in-bearish-year-ahead-for-commodities-ing-says">reported</a> on Thursday.
The report indicates that President-elect&nbsp;Donald Trump&#8216;s proposed tariffs could disrupt markets, impacting oil, metals, and agriculture. Traders are also monitoring China&#8217;s stimulus measures, which could affect consumption.&nbsp;Warren Patterson&nbsp;and&nbsp;Ewa Manthey&nbsp;from ING noted that the commodity sector might face downward pressure with balanced supply and demand.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a> 
Gold is projected to continue its record-breaking trend,&nbsp;with prices averaging $2,760 an&nbsp;ounce in 2025. Central banks are likely to drive demand as they diversify reserves amid geopolitical tensions.&nbsp;The outlook for industrial metals&nbsp;remains uncertain, with factors like trade policies and Chinese demand influencing prices. Copper is predicted&nbsp;to average $8,900 a ton, while grains and soft commodities face volatility due to trade disputes and weather concerns.
Why It Matters: The anticipated performance of gold aligns with earlier <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41810728/jpmorgan-predicts-strong-performance-for-bitcoin-and-gold-under-trump-presidency">predictions by&nbsp;JPMorgan</a>, which foresaw significant gains for both Bitcoin and gold following Trump&#8217;s presidential win. This is attributed to a &#8220;debasement trade,&#8221; where assets like gold are seen as reliable stores of value amid currency devaluation.
Despite the chaotic metals market post-Trump&#8217;s re-election,&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41877899/trump-re-election-jolts-metals-market-as-gold-sees-a-stumble-not-a-sea-change">JPMorgan&#8217;s Commodities Research team</a>&nbsp;emphasized that gold&#8217;s recent fluctuations are merely a &#8220;stumble, not a sea change.&#8221; Meanwhile, some voices, like&nbsp;Michael Saylor, advocate for a <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">shift towards Bitcoin</a>, labeling gold as outdated. However, gold&#8217;s enduring appeal as a safe haven remains significant amidst geopolitical uncertainties.
Price Action: According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, Gold ETFs have been experiencing an upward tick after Trump&#8217;s win in the 2024 elections. SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) increased by 4.54% while iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) rose by 4.52%. VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) witnessed an 8.25% rise in the past month while VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) rose by 10.57%.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Gold To Shine Bright In 2025 As Top Investment Bank Predicts Bullish Outlook Amid Trade Tensions

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/12/05/final-trades-nasdaq-the-ibit-and-the-iau.html">Halftime Report Final Trades</a>,&#8221; Bill Baruch of Blue Line Capital picked iShares Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NYSE">IBIT</a>), saying this &#8220;<a href="https://www.benzinga.com/quote/IBIT">breakout is for real.&#8221;</a>
At the time of writing, Bitcoin price fell around 0.5% to trade at $98,660.13 on Friday.
Liz Young Thomas of SoFi named iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) as her final trade.
Gold futures climbed 0.6% to trade at $2,663.40 an ounce this morning.
Don't forget to check out our<a href="https://www.benzinga.com/premarket/"> premarket coverage here</a>
Joshua Brown of Ritholtz Wealth Management said he likes Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>).
On Oct. 24, Nasdaq reported third-quarter revenue growth of 22% year-on-year to $1.15 billion, missing the analyst consensus estimate of $1.17 billion. The financial services company reported an adjusted EPS of 74 cents, which beat the analyst consensus estimate of 69 cents. The stock price slid after the print. Nasdaq&#8217;s Annualized Recurring Revenue (ARR) increased 31% year-over-year to $2.74 billion.
Nasdaq CEO Adena Friedman praised the "fourth consecutive quarter of double-digit Solutions growth <a href="https://www.benzinga.com/news/earnings/24/10/41517629/nasdaq-sees-recurring-revenue-soar-31-in-q3-solutions-rake-in-872m">with strong overall quarterly performance."</a>
Price Action:
<ul>
<li>iShares Bitcoin Trust slipped by 0.04% on Thursday.</li>
<li>Nasdaq shares rose by 0.5% to settle at $81.27 during Thursday's session.</li>
<li>iShares Gold Trust fell by 0.7% on Thursday.</li>
</ul>
Check This Out<a href="https://www.benzinga.com/24/12/42357598/dow-dips-more-than-200-points-ahead-of-jobs-report-investor-sentiment-declines-fear-greed-index-remains-in-greed-zone">: </a>
<ul>
<li><a href="https://www.benzinga.com/24/12/42357598/dow-dips-more-than-200-points-ahead-of-jobs-report-investor-sentiment-declines-fear-greed-index-remains-in-greed-zone">Dow Takes A Breather After Record Close, Dips Over 200 Points Ahead Of Jobs Report: Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

Topics

NDAQ

Bitcoin 'Breakout Is For Real,' Analyst Says On CNBC's Final Trades

CNBC Halftime Report Final Trades: Nasdaq, iShares Bitcoin Trust, iShares Gold Trust Shares of the iShares Gold Trust

Goldman Sachs has projected a substantial increase in gold prices for the coming year, driven by heightened central bank acquisitions and expected reductions in U.S. interest rates.
What Happened: Goldman Sachs has identified gold as a leading commodity trade for 2025, with prices anticipated to reach $3,000 per ounce by December 2025. Analysts, including Daan Struyven, pointed to increasing demand from central banks as a key driver of this forecast, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-11-18/goldman-says-go-for-gold-as-central-banks-buy-fed-cuts-in-25">reported</a> on Monday.
"Go for gold," analysts said in a note.
They also foresee a cyclical boost from rising investments in exchange-traded funds (ETFs) as the Federal Reserve enacts rate cuts. Additionally, geopolitical risks, particularly concerning Iran, could influence oil supply due to potential increased U.S. support for Israel and stricter sanctions enforcement.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Soars Over 5% In Overnight Trading As Trump Administration Reportedly Seeks To Ease FSD Norms</a>
Gold ETFs have demonstrated robust performance in terms of year-to-date (YTD) returns, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) has risen 24.05%, iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) increased by 24.22%, SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>) climbed by 24.38%, abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) gained 24.29%, and iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>) advanced 24.08% year-to-date.
Why It Matters: The forecast by Goldman Sachs comes amid significant movements in the gold market. In October, the SPDR Gold Trust (GLD), the largest physically backed gold ETF, experienced its highest monthly<a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41663633/biggest-gold-etf-posts-highest-monthly-inflows-in-2-5-years-as-investors-rush-to-"> inflows in 2.5 years earlier this month,</a> driven by economic and policy uncertainties surrounding the U.S. presidential election. This influx pushed the fund&#8217;s assets under management to $79.7 billion by the end of October, with $1.8 billion in net inflows for the month.
However, the sentiment shifted dramatically after Donald Trump&#8216;s election victory, leading to a<a href="https://www.benzinga.com/etfs/specialty-etfs/24/11/41888750/gold-etf-hit-with-1-billion-outflow-investors-dump-safe-haven-asset-after-trump-win"> $1 billion outflow </a>from the SPDR Gold Trust (GLD) in early November. This marked the largest weekly outflow in over two years, as investors moved away from the safe-haven asset, anticipating a strong dollar under Trump&#8217;s second term.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

'Go For Gold,' Says Goldman Sachs: Precious Yellow Metal Price Would Rise In 2025 Amid Central Bank Buying, Fed Rate Cuts

To gain an edge, this is what you need to know today.
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<h3 class="wp-block-heading">Trump Trade Rolls On&nbsp;</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-gold-money-flows-bitcoin-soars-mc-11112024">click here</a> for an enlarged chart of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
Note the following:
<ul>
<li>The Arora Report&#8217;s call on bitcoin has proven spot on. &nbsp; <a href="https://blog.thearorareport.com/stock-market-110924/">On Friday, we wrote</a>:</li>
</ul>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">Bitcoin (BTC.USD) is being bought on hope that whales will take advantage of low liquidity during the weekend to run bitcoin up over $80,000.
</blockquote>
<ul>
<li>The chart shows that bitcoin has moved to $81,866 as of this writing.</li>
<li>RSI on the chart shows that bitcoin is overbought.&nbsp; However, in The Arora Report analysis, the RSI pattern shown on the chart is setting up for a higher bitcoin price, perhaps after a shallow pullback.&nbsp; The next target for bitcoin is $100,000.</li>
<li>The chart shows the support zone for bitcoin.</li>
<li>The chart shows that bitcoin broke out on Trump's election.&nbsp; Trump has said he wants to be the crypto president.&nbsp; As full disclosure, The Arora Report also gave a signal on Trump's election to buy bitcoin via ETF iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>).&nbsp; Bitcoin is also in The Arora Report&#8217;s ZYX Allocation Model Portfolio.</li>
<li>Money is flowing out of gold and other commodities, such as oil, and into cryptos.  For the first time iShares Bitcoin Trust (IBIT) has become bigger than iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>).  On Trump's election, a record $1.4B money inflow took place in IBIT.</li>
<li>When looking at gold and bitcoin, investors need to understand that the gold market is not being manipulated, while bitcoin can easily be manipulated.&nbsp; Anytime an asset can be easily manipulated, it can be driven higher than you would think.</li>
<li>Other crypto tokens are also moving. Dogecoin, created as a joke, has gone up 40% since Friday.&nbsp; The meme crowd is going all in on smaller coins.</li>
<li>Sentiment has reached the extreme zone.&nbsp; When sentiment reaches extreme positive, it is traditionally a sell signal.&nbsp; However, sentiment is not a precise timing signal.&nbsp; Also, this time is different because of the momentum from Trump's election.&nbsp; The Arora Report's sentiment indicator is a 360 degree view and is very comprehensive.&nbsp; Investors looking for a short cut may at this time look at bitcoin as an indication of sentiment.</li>
<li>Investors need to understand that this is as pure of a momentum market as it gets.&nbsp; Momentum is great as long as it is going up.&nbsp; However, a break in momentum can cause major losses, especially in popular stocks.&nbsp; </li>
<li>Based on the weekend pump, there is aggressive buying in stocks by retail investors in the early trade.&nbsp; Buying is extremely aggressive in Trump stocks, such as Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). TSLA stock is up over 6% in the premarket, after moving up 8.2% on Friday.&nbsp; Tesla CEO Elon Musk is expected to be the most influential person in Trump's administration, but without an official appointment.</li>
<li>Trump's election is impacting markets across the globe.&nbsp; Please see below for examples.</li>
</ul>
<h3 class="wp-block-heading">China</h3>
There is disappointment in the markets about China's stimulus.
China&#8217;s trade surplus is set to hit a record of almost $1T.&nbsp; Trump is likely to focus on this record.&nbsp;
<h3 class="wp-block-heading">India</h3>
The Reserve Bank of India is likely to let the Indian currency rupee weaken to compete with the Chinese yuan after Trump's election.
<h3 class="wp-block-heading">Japan</h3>
The Bank of Japan failed to bolster the yen after Trump's election.&nbsp; The yen has weakened.
<h3 class="wp-block-heading">Europe</h3>
There are reports that Trump and Putin have spoken in a bid to settle the Ukraine war.&nbsp; Russia is denying the report.
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Tesla (TSLA).
In the early trade, money flows are neutral in Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
In the early trade, money flows are negative in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
In the early trade, money flows are positive in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is aggressively buying stocks in the early trade.&nbsp; Smart money is inactive in the early trade.
Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.&nbsp; Over a long period of time, investors come out ahead by adopting smart money's ways.&nbsp; The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.
<h3 class="wp-block-heading">Very Very Short-Term Indicator</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).  The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Please see above.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.&nbsp; The proprietary protection band from The Arora Report is very popular.&nbsp; The protection band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

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Money Flows Out Of Gold Into Bitcoin, Next Bitcoin Stop $100,000, Aggressive Buying In Tesla

The re-election of Donald Trump <a href="https://www.benzinga.com/markets/commodities">has metals markets</a> looking a little like a shaken-up snow globe—chaotic and swirling. 
While some metals might be facing a rocky road, JPMorgan's Commodities Research team, led by Greg Shearer, sees gold as holding strong through the turbulence, calling recent gold action a "stumble not a sea change."
Here's the JPMorgan breakdown on what to watch in metals as this political shift unfolds.
<h2 class="wp-block-heading">"Timing and Sequencing Will Be Critical" For Base Metals</h2>
As tariff tensions escalate, Peterson and his team emphasize that "policy timing and sequencing will be critical." They anticipate that China's response will likely be "a more reactive mechanism" once tariffs are in place, rather than a proactive approach. In practical terms, this suggests that the market may start to factor in "risk premia" in the weeks ahead.
Traders should buckle up as base metals brace for near-term turbulence, holding off for now on any major plays.
Investors in base metal ETFs such as the United States Copper Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPER#NYSE">CPER</a>) and the Invesco DB Base Metals Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBB#NYSE">DBB</a>) should remain wary of their holdings.
The analysts say one metal could break the trend, though: aluminum. With supply issues dogging the bauxite market, aluminum has an "idiosyncratic fundamental support" that could "significantly mitigate bearishness from a weaker CNY." So, while aluminum may stay relatively resilient, other base metals might be taking a temporary backseat.
Read Also: <a href="https://www.benzinga.com/markets/commodities/24/11/41793159/trumps-victory-a-tailwind-for-domestic-steel-risk-for-canada-say-analysts">Trump&#8217;s Victory A Tailwind For Domestic Steel, Risk For Canada, Say Analysts</a>
<h2 class="wp-block-heading">Gold: The "Debasement Trade" Keeps The Glitter</h2>
Gold experienced a dip following the election, but JPMorgan sees this as a temporary setback rather than a major shift. With potential U.S. fiscal challenges and rising inflation concerns, Peterson anticipates gold will perform strongly in the coming years, projecting it could reach $2,850 per ounce by late 2025.
This "debasement trade" may make gold the go-to hedge as the new administration's policies take shape, especially as inflationary pressures bubble up.
This may bode well for investors in the SPDR Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and the iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>).
<h2 class="wp-block-heading">The Yuan Factor: Copper's Achilles' Heel?</h2>
Another key factor here is the yuan (CNY). If Trump's policies lead to further yuan depreciation—potentially up to 7.40 or even 7.8, according to JPMorgan's FX strategists—copper prices could see a roughly 5% hit, dragging prices down to around $9,000 per metric ton.
Aluminum, again, may be shielded somewhat by those supply issues, but other base metals could be feeling the squeeze.
<h2 class="wp-block-heading">Gold Glimmers While Base Metals Hold Their Breath</h2>
For the metals market, Trump's second term brings headwinds and a few golden highlights. 
While base metals might see some strategic waiting time, aluminum could be one of the few to withstand the early hits. 
Gold, meanwhile, has the long game in sight, with JPMorgan's "debasement trade" fueling bullish forecasts.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41810728/jpmorgan-predicts-strong-performance-for-bitcoin-and-gold-under-trump-presidency">JPMorgan Predicts Strong Performance For Bitcoin And Gold Under Trump Presidency</a></li>
</ul>
Photo: Shutterstock

CPER

Trump Re-Election Jolts Metals Market As Gold Sees A 'Stumble, Not A Sea Change'

Amid the fallout from <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">Iran&#8217;s missile attack</a> against Israel on Tuesday, market observers are closely watching the unfolding conflict and its possible effects on <a href="https://www.benzinga.com/topic/gold">gold prices</a>.
What Happened: Iran fired 100 to 200 missiles at Israel on Tuesday. The attack came following several Israeli strikes on the Lebanon-based Hezbollah, an Iranian proxy. 
Israel has been at war with Hamas, also <a href="https://www.benzinga.com/general/politics/24/07/39941704/netanyahu-addresses-us-congress-emphasizes-alliance-against-iran-in-middle-east-give-us-the-tool">supported by Iran</a>, since Oct. 7, 2023, following a <a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">Hamas terrorist attack</a> that left over 1,000 Israelis dead. Israel&#8217;s subsequent military campaign against Hamas in Gaza resulted in a reported death toll of over 40,000, <a href="https://www.middleeasteye.net/live-blog/live-blog-update/gaza-death-toll-tops-41638-after-51-killed-past-day?nid=394896&amp;topic=Israel%2527s%2520war%2520on%2520Gaza&amp;fid=532496">according</a> to the Gaza Health Ministry.
Iran&#8217;s most significant geopolitical rival, Saudi Arabia, has normalized <a href="https://www.benzinga.com/markets/asia/23/09/35005546/how-the-us-saudi-defense-pact-could-reshape-middle-east-geopolitics">relations with Israel</a> in recent years with American support. The Iranians and Saudis have already engaged in proxy warfare in Yemen, among other countries, for decades. The most recent developments, however, point to a possible direct warfare between Middle Eastern spheres of influence.
The United States and its allies are particularly concerned with <a href="https://www.benzinga.com/news/24/09/40868101/us-and-allies-worried-amid-reports-of-russia-potentially-sharing-nuclear-secrets-with-iran">Iran&#8217;s nuclear development</a>.
Impact On Gold: Investors flock to gold during times of economic and geopolitical uncertainty. Financial markets might experience heightened volatility during such a conflict, with investors seeking safer alternatives. A confrontation between Israel and Iran would likely increase demand for gold, driving up prices.
Further conflict in the Middle East could disrupt oil supplies, leading to higher global energy prices, which might contribute to inflation. Since gold is often seen as a hedge against inflation, this could further boost demand for gold.
While it is yet unclear whether Iran&#8217;s attack on Israel will escalate to something larger, any news seemingly pointing in that direction will send gold prices higher.
Gold Price Action: The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) and SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>) are among the largest gold ETFs.
While gold prices moved higher following Iran&#8217;s military action on Tuesday, gains quickly subsided. The SPDR Gold Trust is trading just 0.44% higher than it did on Monday.
Gold&#8217;s muted price action could indicate one of two things. Investors may already have priced in the likelihood of war breaking out in the Middle East. Thus, Tuesday&#8217;s missile attack might not have surprised market observers, who are already weary of possible warfare.
Alternatively, investors could be skeptical of the likelihood of the conflict between Iran and Israel escalating further. Several scares in Middle Eastern relations in recent years have not amounted to large-scale conflict.
Regardless, gold has had a remarkable year, hovering near an all-time high price. The commodity is trading 28% higher in 2024 and has increased 44.17% in the last 12 months.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41143156/oil-prices-spike-energy-stocks-jump-after-irans-missile-attack-on-israel-what-investors-need-to-know">Oil Prices Spike, Energy Stocks Jump After Iran&#8217;s Missile Attack On Israel: What Investors Need To Know</a></li>
</ul>
Photo: Shutterstock

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Investors Look To Gold As Middle East Tensions Rise: How Israel-Iran Conflict Could Impact Prices

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