Gold price as of 21.10.2025.
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Source: XTB & Bloomberg. Past performance is not a reliable indicator of future results.
In the current environment, gold’s reputation as a store of value has become appealing.
Gold is typically driven by different factors compared to stocks and bonds, so owning it can reduce overall portfolio risk. In periods of economic or geopolitical uncertainty such as trade tensions, conflicts, or global financial stress, gold tends to attract safe-haven demand as investors look for stability. This has helped support its price even when other assets have wavered.
What are the factors driving the surge in the gold price?
1.Safe haven demand - Ongoing global tensions and U.S. uncertainty are pushing investors toward gold.
2.Central bank buying - Countries like Poland and China are stocking up again. Combined with ETF inflows, demand remains strong.
3.Dollar and the Fed - Expectations of a weaker USD and more rate cuts in 2025 are boosting gold’s appeal.
Chart 2: Gold and the US Dollar as of 21.10.25. Normalised to show how they move together.
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Source: XTB & Bloomberg. Past performance is not a reliable indicator of future results.
Some analysts even believe there’s further upside ahead. HSBC, for example, recently raised its price forecast, predicting gold could reach around $5,000 per ounce by 2026. The World Gold Council also notes that strong central bank demand and ongoing investor interest could keep prices elevated. In light of these considerations, short-term declines in gold prices might attract attention from investors anticipating that recent uptrends could continue
Why finding a reliable broker is really important
Trading gold CFDs with XTB can be attractive for several reasons. XTB is a well-regulated global broker, supervised by multiple authorities, including the FCA in the UK, which helps provide a sense of security and trust. It offers traders access to the gold market through the xStation platform, which is known for being user-friendly, fast, and packed with real-time analysis tools.
Gold CFDs on XTB also allow traders to speculate on price movements without owning physical gold, and the ability to use leverage means you can control a larger position with a smaller initial deposit. This flexibility allows you to take advantage of both rising and falling gold prices, which is ideal for those who want to trade short-term market trends rather than hold gold as a long-term investment.
XTB provides extensive educational materials, competitive spreads, and access to a wide range of markets, so you can trade gold alongside currencies, indices, or other commodities from a single account.
Traders should remember that trading CFDs is inherently risky because leverage can magnify both profits and losses.
For those seeking exposure to gold without the complexity or risk of leveraged trading, gold ETFs (Exchange-Traded Funds) offer an alternative. A gold ETF typically tracks the price of physical gold and is traded on stock exchanges just like shares. This allows investors to benefit from movements in the gold price without needing to buy, store, or insure physical bars. Gold ETFs are generally more suited to long-term investors who want to diversify their portfolio or hedge against inflation. They tend to have lower costs and risks compared to CFDs, as there’s no leverage involved, though returns are also typically smaller in the short term. Popular examples include the SPDR Gold Shares (GLD) and iShares Physical Gold ETF, which are backed by physical bullion and provide a transparent, regulated way to invest in gold.
In summary, XTB is a strong option for active traders who want to speculate on gold’s price with advanced tools, leverage, and the flexibility to trade in both directions. However, for investors who prefer a more stable, long-term approach to gold exposure, gold ETFs offer a simpler and safer alternative without the complexities of leveraged trading. The right choice depends on your goals whether you’re looking to trade short-term gold price movements or invest in gold as a store of value over time.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
