MarketMoodz
Gold near all-time highs: best ways to own in rising-price era
Gold is trading near all-time highs, with CNBC reporting prices north of $4,900 per ounce as of Jan. 23, 2026, though that figure should be independently verified. Investors now weigh two paths to ownership—physical bullion or ETFs/mutual funds that track the metal—while considering costs, liquidity, and diversification in a rising-price environment.
Key Takeaways
- Gold near-all-time highs (reported around $4,900/oz as of Jan 23, 2026) but data should be verified.
- Two ownership paths exist: physical gold and paper gold via ETFs/mutual funds.
- Allocation guidance suggests 5-10% of physical gold for risk-tolerant or sovereignty-minded investors; otherwise favor paper gold.
- Physical gold carries 5-10% premiums above spot plus storage costs and is less liquid than ETFs.
- Gold can diversify portfolios due to historically low correlation with stocks and bonds, with examples from 2002 and 2008 illustrating its hedging potential.
People Involved
- Nicky ShielsHead of Metals Strategy
- Mike CaseyCertified Financial Planner
- John BellCFP, AE Advisors/Free State Financial Planning
- Alex CanellopoulosCFP, Vista Capital Partners
Entities Involved
- MKS PAMP GroupPrecious metals trading firm (associated with Nicky Shiels)
- AE AdvisorsFinancial advisory firm (associated with Mike Casey)
- Free State Financial PlanningFinancial planning firm (associated with John Bell)
- Vista Capital PartnersInvestment firm (associated with Alex Canellopoulos)
MarketMoodz Analysis
The price environment matters for portfolio construction. If gold truly sits near all-time highs, owning it as a hedge and diversifier can help manage inflation risk and counterparty exposure, but the choice between physical and paper gold will shape liquidity and operational complexity for the investor.
Historically, gold has shown periods of low or negative correlation with stocks and bonds, notably during downturns such as 2002 and 2008, which underscores its potential to stabilize a diversified mix. However, the degree of diversification is regime-dependent, and gold does not generate cash flow, so the role should be capped as a sleeve rather than a backbone in most portfolios.
What to watch next: verify the price data from independent sources, monitor premium levels on physical gold, track ETF liquidity, and watch how policy shifts or geopolitical developments influence demand and the dollar, which can all shift gold’s risk/return profile.
Source: Original Article
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