Gold broke its previous all-time high of just over $4,400 today.

On that note, have a good start to the last full week of 2025 😌

$GLDA (-0,06 %)
$GOLD
$4GLD (-0,13 %)
$GOLD (-0,44 %)
$GDXJ (-1,33 %)
$GDXJ (-1,3 %)
$EWG2 (+0,21 %)

A joint analysis by V-Bank and the Institut für Vermögensaufbau provides fascinating insights. More than 53,000 custody accounts managed by 170 independent asset managers were examined. V-Bank is a custodian bank that holds the securities and carries out transactions on behalf of the asset managers.

The first thing that stands out is that index funds (ETFs) now dominate when it comes to equity vehicles. While actively managed equity funds account for a good eight percent of portfolios, more than eleven percent are invested in equity ETFs. The situation is different for mixed funds or bond vehicles. Here, the professionals still rely on the skills of fund managers, i.e. actively managed products.

When selecting their products, the professionals rely on the large, liquid battleships of the ETF world with low costs from well-known providers. The logic behind this is simple and consistent: maximum diversification at minimum cost. The ongoing charges of the favorites are usually between 0.07 and 0.20 percent. Special sustainability criteria hardly play a role in the choice of ETF.

One thing is striking in the construction of the underlying investments. In their global index funds, the professionals do not rely on combined products that combine industrialized countries and emerging markets in one ETF, such as the MSCI All Country World or the FTSE All World, but prefer to invest separately in the MSCI World and the MSCI Emerging Markets and can thus mix the two components individually. The advantage: the emerging markets are weighted very low in the combined products, and this problem can be better addressed by the professionals' strategy.

Gold is a must for the professionals. It is not high-tech shares or exotic theme funds that dominate the professional portfolios, but the oldest safe haven in financial history. Xetra-Gold is by far the most frequently represented product: the ETC is held in 14,180 professional portfolios. Alternatives such as Euwax Gold II can also be found thousands of times over. And the courage to be safe has been rewarded. While traditional stock markets only made moderate gains in 2025 - the iShares Core MSCI World is up around 6.3% - gold shone with an impressive performance of 47.5%. The message is clear: in uncertain times, gold is not jewelry, but a foundation.

To stabilize the overall portfolio, asset managers are also turning to bonds. Around 28% of assets are invested in bonds, preferably in corporate bonds with good credit ratings. In the ETF segment, the iShares Global Corporate Bond EUR is in the top 20, combining a defensive approach with current yields. In the current year, the ETF has made 4.4 percent, while many bond products are in the red. In the money market, the Xtrackers II EUR Overnight Rate ETF is the most popular ETF product. The principle of balance applies to currency risk: although the euro dominates at 53%, the US dollar is a key component of the hedge at 34%.

In the end, the professionals' figures do not tell a story of hectic changes of direction, but one of structure, cost awareness and clear priorities. Gold serves as both a protective shield and a yield driver. Equities are broadly and favorably represented via global, US, emerging market and Japanese indices. Fees are consistently kept low. And ETFs and ETCs are playing an increasingly important role: almost 20 percent of customer funds are now invested in these instruments - and the trend has been rising since 2023.

This is a reassuring realization for the overburdened private investor. There's no need to reinvent the wheel. A look at the books of the professionals shows that it is often the simple, cost-effective and broadly diversified solutions - supplemented by a good portion of gold - that point the most reliable course in a storm.

$4GLD (-0,13 %) | $EWG2 (+0,21 %) | $CSEMU (+0,09 %) | $EIMI (-0,35 %) | $MEUD (+0,41 %) | $EXSA (+0,42 %) | $XMME (-0,27 %)

Source text (excerpt) & graphic: World, 20.12.25

🌟 Gold price soaring

The gold market remains in absolute rally mode. After several days of strong gains, the price remains at an extremely high level - and the jump to an all-time high could happen at any time.

_________________________

💸 Fed interest rate cut boosts precious metals

The latest push is mainly due to the Fed's decision:

• ✔️ Fed rate cut this week
• ✔️ Prospect of continued loose monetary policy
• ✔️ Start of a new bond purchase program (USD 40 billion per month)

The whole thing acts as fuel for gold and silver, as neither yields any current interest - making them particularly attractive in periods of low interest rates.

_________________________

🏅 Gold price scratches the record

• Current price: USD 4,337 per ounce
• All-time high: USD 4,381
• ➡️ Only 44 dollars away!

Three strong trading days in a row have catapulted the market upwards. Silver is also close to its own record.

_________________________

📈 Reasons for the mega rally

Precious metals are a phenomenon in their own right in 2025:

• Gold: +60% since the beginning of the year
• Silver: more than doubled
• Best performance in sight since 1979

The whole thing is driven by:

• ✔️ massive central bank buying behavior
• ✔️ withdrawal of many investors from government bonds
• ✔️ Increasing fear of currency devaluation (debasement trade)
• ✔️ geopolitical uncertainties

_________________________

🔮 Outlook: 2026 could be even hotter

According to market analyst Hebe Chen (Vantage Markets):

• The rally is likely to continue until 2026
• Central banks remain buyers
• ETF inflows pick up speed again
• Fed leaves "unusual room for surprises" - creating more volatility

The World Gold Council confirms:

→ Gold ETF holdings to rise almost every month in 2025

→ Silver additionally benefits from shortages and supply disruptions

_________________________

💹 Market overview (Friday morning)

• Gold: USD 4,337 (+ slightly)
• Silver: USD 63.63 (sideways)
• Platinum: slightly weaker
• Palladium: up
• Dollar index: stable after -0.3% the previous day

$4GLD (-0,13 %)
$GLDA (-0,06 %)
$GOLD
$GOLD (-0,44 %)
$NEM (-0,98 %)
$ABX (+0,77 %)
$AEM (-0,78 %)

Source:

https://finanzmarktwelt.de/goldpreis-nimmt-rekordhoch-ins-visier-fed-sorgt-fuer-auftrieb-373384/?amp

For those who have no plans today,

Aswath Damodaran (if you don't know him, please google him) has made a short but very precise analysis of gold as an investment.

Highly recommended!

https://youtu.be/FdlCocXHnMs?si=TyIjsezV_5QwLTXb

For those who prefer to read it:

https://aswathdamodaran.blogspot.com/2025/11/a-golden-year-2025-golds-price-surge.html?m=1

$4GLD (-0,13 %)

$GLDA (-0,06 %)
$EWG2 (+0,21 %)
$IGLN (-0,26 %)

$DE000EWG0LD1 (+0,19 %)

After two weeks, I have decided to sell the inliner warrant with a decent plus... (If the shutdown ends, this could cause a short-term setback, which I do not want to participate in)

This is where the advantage of inline warrants becomes particularly clear, while gold has only risen by just under 5% in this time, I have made a return of around 75%, for which I would need very high leverage if I wanted to do this with KO longs...

$GLDA (-0,06 %)
$GOLD
$DE000EWG0LD1 (+0,19 %)
$4GLD (-0,13 %)

October marks the end of one of the most turbulent months for my portfolio. My portfolio reached a new ATH and I had the highest absolute daily gain (approx. 50,000 euros) and the highest daily loss (also approx. 50,000 euros) within a few days.

Start: 1,116,452 euros

End: 1,152,698 euros

Deposit: 26,034 euros

Profit: + 10,212 euros (+0.89%)

Anyone who has ever looked at my portfolio will know that I am significantly overweight in gold, or more precisely in gold mines. This quickly explains the reason for the volatility. 🎢

In the shadow of the gold price, mines have of course also risen disproportionately. With the slump in the gold price by 10% in places in just a few days, the good performance of the mines also came to an end. Some of the junior mines recorded price falls of over 50% in just one week (fortunately not mine).

While gold $4GLD (-0,13 %) still rose by +3.8% in October, the October performance of K92 Mining (my largest position) was $KNT (-0,14 %) (my largest position) was +5.5% and Equinox Gold $EQX (-1,52 %) was +0.8%. I assume that gold will continue to perform well, as none of the problems (geopolitical tensions, inflation, etc.) have been solved. For this reason, I have also taken another small position $SCZ (-0,21 %) (SantaCruz Silver Mining) in the portfolio. The crash offered a very good opportunity! 📈

Novo-Nordirsk performed less well this month $NOVO B (+9,12 %) with -15% and PayPal $PYPL (-1,23 %) with +3.9%. PayPal is particularly disappointing here, as the quarterly figures were excellent. This sent the share price up almost 18% intraday. Unfortunately, it was subsequently sold off completely. But this confirms my belief that you just have to be patient with PayPal. The day of truth for Novo-Nordirsk will come next week... 📉

Otherwise, I received around 700 euros in dividends this month and realized around 3,000 euros in gains on Mercedes and Alibaba, among others. 💵

➡️🆓: On my way towards 4 million total assets, the target achievement rate is now 39.9%. 😊

Let's see how November turns out. As always, it remains exciting!

Hello everyone,

After a long time as a silent reader, I would like to share my first post today - with a question that is currently on my mind.

My children benefited early on from an inheritance. I invested the capital I received in a long-term, broadly diversified portfolio:

• 65 % in $WEBN (+0,16 %) - as a low-cost basic investment
• 20 % in $WTCH (-0,18 %) - as a growth-oriented addition.
• 15 % in the $XEON (+0,02 %) - originally intended as a liquidity reserve. It seemed sensible to me, although I would never have been able to say what this liquidity was being held for...

As my children won't need the money in the money market ETF for the next few years, I'm now thinking about reallocating this proportion. At the moment I'm flirting with a gold ETC - e.g. $4GLD (-0,13 %) or $EWG2 (+0,21 %) .

My reasoning: Gold has become much more expensive recently, which makes me wonder: Is now even a good time to get in? Or would a staggered purchase over several months (keyword: DCA) make more sense in order to reduce the risk of a short-term price decline?

My questions to you:

How sensible is gold as a long-term addition (investment horizon: initially 10-15 years) in a child's portfolio?

Would you completely reallocate the money market portion now - or would you rather invest in a staggered manner (DCA)?

I look forward to your opinions! Thank you already for your input - and it's great to be actively involved now!

Best regards

Joo

How often have I heard in the past that gold is only an investment for "prophets of doom" and generally rather "stupid" as it pays no dividends. And in fact, if you look at the average investor, hardly anyone is invested in gold. Neither indirectly via mining shares nor directly. An exception might be a couple of gold coins sitting in a safe deposit box somewhere, but understandably not traded.

👉🏻 But does the performance of the last quarter of a century justify this reputation?

A very clear no! ... A look at the absolute gold price performance since 2000:

Gold: approx. +980%

S&P 500: approx. +262%

If you now take dividends into account (see also screenshot), the difference is no longer quite as significant, but is still clear:

Gold: approx. +980%

S&P 500: approx. +600%

Wnyone who was not invested (in whatever form) has missed out! 📈

👉🏻 So the question is what happens next?

I dare to take a look into my cloudy crystal ball 🔮... I remain optimistic about gold for 3 reasons:

1️⃣ increasingly loose monetary policy worldwide - constant and accelerating devaluation of fiat currencies (euro / USD / yen)

2️⃣ National banks as drivers of demand in the past and present (especially China, Russia & India, but also the ECB)

3️⃣ Demand from private households is increasing. The sharp rise in the price of gold in recent months has brought gold to the attention of the public.

📈 In the short and medium term, a small correction or consolidation at the high level would not really be surprising, but in the long term I see the price of gold at 5,000 dollars rather than 3,000 dollars an ounce. What do you think?

$4GLD (-0,13 %)
$CSPX (-0,01 %)

Regional banks in the USA are once again coming under pressure.

High interest rates, bad loans and growing losses are unsettling the markets.

While bank shares fall, gold rises to a record high.

💰 When confidence wanes, money flows to where it seems safe,

where it seems safe.

$4GLD (-0,13 %)