Investors overhaul portfolios as gold joins the core

For nearly two years, gold has done what few assets have managed, which is stay glued above its 200-day moving average, a line most traders treat like a sanity test for markets. That’s an unusual record in the metal’s trading history and a sign that investors aren’t backing away from it anytime ￰0￱ rally hasn’t cooled ￰1￱ gold has now rallied for nine consecutive weeks, something that’s happened only five times in the past fifty ￰2￱ October 1975 to October 2025, there have been 2,601 rolling nine-week periods, and in just 0.19% of them, gold managed a winning streak like ￰3￱ each of the four previous cases, the metal kept rising in the months that followed, one month later, three months, six, twelve, and even two years ￰4￱ setup looks familiar to those who’ve watched the market ￰5￱ fiscal and monetary policies around the world, and even political interference in central bank independence, have stoked fears of inflation that keep dragging real interest rates ￰6￱ in Trump’s White House openly pushing for a weaker dollar, and you’ve got a backdrop where a zero-yielding asset like gold suddenly looks like a stronger bet than most government paper.

Still, deciding whether gold has gone “too far” remains a guessing game. There’s no formula for its true ￰7￱ have earnings, bonds have yields, but gold doesn’t have ￰8￱ the metal has more than doubled in five years and climbed over 250% in the last decade. That’s made the question “how high is too high?” harder than ever to ￰9￱ overhaul portfolios as gold joins the core The old 60/40 portfolio, stocks and bonds, has lost its ￰10￱ and analysts are turning toward a 60/20/20 model, where alternatives like gold and crypto take up a bigger ￰11￱ thing is, bonds don’t hedge like they used to. Inflation, government debt, and geopolitical risk have both asset classes moving in the same direction too often.

“We are seeing greater adoption of non-equity, non-fixed-income products,” said Todd Rosenbluth, head of research at ￰12￱ metal recently hit an all-time high above $4,300, up more than 60% since January, pushed by central bank buying, de-dollarization, and what traders are calling “the debasement trade.” Steve Schoffstall, director of ETF product management at Sprott, explained that shift on ETF Edge : “What’s really happening now is a shift into the acceptance of gold.” He added that many economists now favor the 60/20/20 structure instead of 60/40, while also saying, “Most people are probably well positioned if they have a 5%-15% allocation to physical gold.” Gold funds see record inflows as demand keeps building The rally has been matched by surging ETF ￰13￱ SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) are both up around 11% this month, and the momentum goes back to early ￰14￱ World Gold Council said that September brought the largest monthly inflows ever for gold ETFs, totaling nearly $11 ￰15￱ alone pulled in $4 billion, and by mid-October, it added another $1.3 billion, data from ￰16￱ ￰17￱ year’s total movement into gold funds has already topped $38 billion, Sprott ￰18￱ level of capital reallocation underscores how investors are repositioning toward hard assets amid fiscal uncertainty and volatile fiat ￰19￱ now, the numbers say it all, two years above the 200-day average, nine weeks of straight gains, and billions flowing into gold-backed ￰20￱ comes next, gold has proven it’s not just holding the line.

It’s rewriting what “stability” looks like in a market that no longer trusts anything that ￰21￱ your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.