The final weeks of 2025 have delivered a sharp reminder of where investor conviction is building. Gold has surged to unprecedented levels, with spot prices climbing above $4,400 an ounce for the first time. This move is a reflection of deeper repositioning across portfolios in response to evolving macroeconomic signals.
Driving this shift is a growing consensus that US monetary policy is entering a decisive new phase. With inflation indicators softening and labour markets showing signs of cooling, expectations for continued Federal Reserve rate cuts are no longer speculative, they are becoming a central scenario. For gold, which offers no yield but thrives when real interest rates fall, this represents a powerful structural tailwind.
Institutional interest has been steady, with central banks continuing to add gold to reserves in a bid to diversify away from fiat exposures. At the same time, inflows into gold-backed ETFs and futures positions have accelerated, reinforcing the sense that this move is more than just a defensive hedge.
Elemental Royalty Corporation (NASDAQ:ELE, TSX:ELE) is a globally diverse, gold-focused portfolio featuring world-class royalties contributing to peer-leading revenue and strong growth.
