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Market Analysis2026-02-24
Gold Surges Past $5,000, ETF Inflows Accelerate
Gold spot prices climbed to $5,180 per ounce, hitting a three-week high amid dollar weakness and trade uncertainty. Funds are pouring into gold ETFs like GLD and IAU as investors recalibrate their precious metals allocations.
관리자
Gold prices continue their historic rally in 2026. As of February 24, gold spot trades at $5,180 per ounce, marking a three-week high. The Supreme Court's tariff ruling weakened the dollar, enhancing gold's safe-haven appeal and sparking active discussion about increasing gold allocations among ETF investors.
Behind the $5,000 Gold Era
Gold reached an all-time high of $5,595 in late 2025, then experienced sharp swings of decline and recovery. The 1.4% gain over three weeks back above $5,000 reflects intensifying U.S.-China trade conflicts, Middle East geopolitical risks, and the Supreme Court's tariff ruling. The dollar index dropping 0.8% has boosted gold's relative attractiveness as a dollar-denominated asset. Traders have built 11,000 positions in December call spreads, betting on further upside.
Gold ETF Fund Flow Analysis: GLD vs IAU
SPDR Gold Shares (GLD) recorded $2.2 billion in net inflows in January 2026 alone, while iShares Gold Trust (IAU) attracted over $800 million. GLD offers the highest liquidity at a 0.40% expense ratio, while IAU's 0.25% ratio makes it better for long-term holding. Both physically-backed ETFs closely track gold spot prices. Increasing numbers of investors are using rebalancing calculators to set gold allocations between 5-10% of total portfolio value.
Shifting Gold-Bond Correlations
Traditionally moving together as safe havens, gold and bonds have shown diverging patterns in 2026. While gold gained for three consecutive weeks, the AGG ETF traded sideways and TLT actually declined slightly. Inflation concerns benefit gold but hurt bonds. Core PCE rising to 3.0% year-over-year in December has pushed back Fed rate cut expectations, also affecting TLT vs IEF positioning decisions. Investors need their asset allocation calculator to navigate these shifting correlations.
Gold ETF Portfolio Integration Strategy
Experts advise that despite elevated gold prices, trade uncertainty and inflation risks justify gold ETF inclusion. Using an asset allocation calculator, a 60% equity, 30% bonds, 10% gold split has proven effective in current conditions. GDX (gold miners ETF) offers leveraged exposure versus physical gold, suiting aggressive investors. However, with increased gold volatility, caution is needed when pairing with leveraged products like TQQQ.
Conclusion
As gold enters the $5,000 era, gold ETFs have emerged as essential portfolio diversification tools. Selecting between GLD and IAU based on investment objectives and setting appropriate weightings through rebalancing tools is critical. As long as tariff uncertainty and inflation pressures persist, gold remains an indispensable element of defensive asset allocation strategies.
