How do returns from gold ETFs compare with mining shares?

This year, gold has staged a rally as investors looked for safety from macroeconomic uncertainty. The price of spot gold has gained by more than 40% in US dollar terms this year, and approximately 30% for physical gold ETCs when measured in pounds. In 2025, ETFs holding gold mining stocks have outperformed physical gold, which was not the case two years ago. Gold mining stocks can track the price of gold and provide an income stream for investors, but they are more volatile. Both asset classes play important roles in portfolios, and investors' objectives determine which option is best. Discover...