Institutional investors take profit on gold trades

- By Cole Lipsky
- 11 Nov 2025

Following a 50% year-to-date rally in gold prices to more than $4,000 an ounce, institutional investors have begun closing some of their long positions amid increased volatility.

Much of gold’s bull run in 2025 was characterised by subdued levels of implied volatility, while the so-called debasement trade saw investors shift away from holding sovereign debt and currencies towards gold as a haven from economic uncertainty and perceived threats to the US Federal Reserve’s independence.

But on

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@fx-markets.com or view our subscription options here: https://subscriptions.fx-markets.com

You are currently unable to print this content. Please contact info@fx-markets.com to find out more.

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@fx-markets.com

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@fx-markets.com