Gold prices have gone completely wild, hitting an unprecedented $5,300!
Gold surged to a new all-time high of $5,311 today. Since the start of 2026, prices have rocketed more than 20%, climbing all the way from $4,332.
Major gold-related ETFs have posted equally staggering gains. Among leveraged products, 3x long $MicroSectors Gold Miners 3x Leveraged ETN(GDXU)$ is up 100.5% YTD, while 2x long $Direxion Daily Junior Gold Miners Index Bull 2X Shares(JNUG)$ and $Direxion Daily Gold Miners Index Bull 2X Shares(NUGT)$ have gained 65% and 60.2%, respectively. In the gold miners space, $VanEck Gold Miners ETF(GDX)$ has risen 27.4% YTD. ETFs that directly track gold prices, such as $SPDR Gold ETF(GLD)$ and $Gold Trust Ishares(IAU)$ , are each up nearly 20.1% year to date.
After a full week of outsized gains, why has gold still managed to maintain such strong momentum today? The reason is simple — Trump’s stance on a weaker dollar.
When speaking to reporters in Iowa on Tuesday, Trump was asked whether he was concerned about dollar depreciation. He responded:
“No, I think the dollar is doing great.”
Following these remarks, the U.S. Dollar Index immediately fell to a four-year low.
According to reports from Bloomberg and Reuters, Trump’s comments clearly signaled tolerance — or even acceptance — of continued dollar weakness. With the dollar already sitting near cyclical lows, markets are highly sensitive to any indication of further downside. Trump’s explicit statement that he was “not worried” about dollar depreciation, and that the dollar is “doing great,” further shook market confidence.
More recently, Trump’s threats to raise tariffs on South Korea, combined with tensions surrounding Greenland and escalating U.S.–Europe trade frictions, have added to geopolitical uncertainty. Rising global instability and the risk of renewed trade wars have kept gold prices elevated. With expectations for dollar strength fading, capital has flowed aggressively into gold.
As a result, uncertainty around the dollar has intensified once again, assets have rotated toward safe havens, and gold has broken to fresh highs.
Recommended gold-related ETFs:
$MicroSectors Gold Miners 3x Leveraged ETN(GDXU)$ : A 3x leveraged gold miners ETF, amplifying price movements in the gold mining sector. Highly sensitive to gold prices and shifts in market sentiment, with significantly higher risk and volatility than non-leveraged miners ETFs.
$Direxion Daily Junior Gold Miners Index Bull 2X Shares(JNUG)$ : A 2x leveraged junior gold miners ETF, focused mainly on small- and mid-cap gold mining companies. Offers higher elasticity and is more sensitive to gold price fluctuations and changes in risk appetite.
$Direxion Daily Gold Miners Index Bull 2X Shares(NUGT)$ : A 2x leveraged gold miners ETF, primarily covering large- and mid-cap mining companies. Provides leveraged exposure to gold prices, with volatility somewhat lower than JNUG.
$VanEck Gold Miners ETF(GDX)$ : A non-leveraged gold miners ETF, mainly holding large gold mining companies. Performance is driven by both gold prices and miners’ fundamentals, with relatively moderate volatility.
$SPDR Gold ETF(GLD)$ : A physically backed gold ETF that directly tracks spot gold prices. One of the largest and most liquid gold ETFs, commonly used to reflect movements in gold prices.
$Gold Trust Ishares(IAU)$ : A physically backed gold ETF similar in structure to GLD, also backed by physical gold. Often used for medium- to long-term allocation, with a relatively lower fee structure.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
