Gold reaches all-time highs as fear of missing out drives the metal toward $4,000.

The gold market is targeting yet another record, continuing its impressive trajectory in precious metals.

“In today’s FOMO atmosphere, there’s this sort of concern about, well, ‘What if?’ I think there’s a 75% chance we’ll see gold prices exceed 4,000 dollars per ounce by early 2026,” he noted.

Gold recently marked seven consecutive weeks of gains, reaching an unprecedented price of $3,880.8 per ounce. That’s over a 47% increase for the year. Factors contributing to this surge include ongoing fears of government shutdowns, a weaker US dollar, and anticipated interest rate cuts. The Federal Reserve is predicted to lower rates in October and December, based on data from CME’s FedWatch tool.

“As the Fed continues to reduce interest rates, gold benefits through two main avenues: firstly, it lowers the opportunity cost of holding gold as an asset. With the dollar sliding against major trading partners, it’s facing its worst annual drop since the 1970s,” he explained.

The Fed is expected to implement its first cut in 2025.

This year’s inflow into gold exchange-traded funds (ETFs) has reached the highest level since 2020, according to Dosi. He points out that overall physical gold holdings are below their pandemic peak, implying potential for further purchases. “The influx of bullion ETFs could significantly shift the supply/demand balance, pushing record prices this year,” he remarked.

The US Treasury Department is planning to issue a Trump coin.

State Street’s SPDR Gold Trust stands as the largest ETF backed by physical gold and has been experiencing inflows from mid-September through the end of the month, according to ETF.com.

Wealthy investors are turning to ETFs for three key assets.

Other notable performers include ProShares Ultra Gold and DB Gold Double Long Exchange Traded Notes, both seeing gains of over 90% this year. Meanwhile, Sprott Physical Gold Trust and Franklin are both up 47%, as tracked by Vettafi.