Portfolio effect on gold is just starting

With western capital markets only just beginning to realise that gold is the best performing asset in Q1, portfolio flows into gold ETFs will have a dramatic effect on the gold price.

This article assesses investors’ exposure to gold in western capital markets. It comes in three forms: bullion itself, gold ETFs, and gold mining corporations. The findings show that exposure to gold and related investments is significantly less than commonly thought, raising questions over what happens when investment managers attempt to rebalance their portfolios away from poorly performing sectors in 2025.