What’s wrong with Gold?

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts What a year it has been! Financial markets have swung from all-out bullishness to maximum bearishness. Most asset classes equities, bonds, crypto-coins, commodities (except for energy) have all fallen by a fifth or more from their peaks. This should have been the perfect environment for Gold to shine – but it didn’t. What explains the behaviour of the Gold market? What can investors expect looking ahead? Find out more in this episode with our experts Carsten Menke, Head of Next Generation Research and Chris Irwin, Precious Metals Trader at Julius Baer.