Goldman Sachs Physical Gold ETF Price & Performance (AAAU)

Gold has surpassed the Magnificent 7 tech stocks to become Wall Street’s most crowded trade, with nearly half of surveyed fund managers expecting it to outperform in 2025. Surging central bank purchases and massive ETF inflows—especially from China—are fueling demand, while forecasts suggest gold could top $4,000 next year.12

Goldman Sachs has sharply increased its year-end gold forecast to $3,700 per ounce, citing robust central bank buying and rising ETF inflows as recession fears persist. Spot gold hit a record $3,245, and analysts warn that a downturn could push prices even higher, reinforcing gold’s safe-haven status for investors.34

The Goldman Sachs Physical Gold ETF (AAAU) has soared almost 40% over the past year, hitting a record $33.02 per share. The fund’s assets now exceed $1.4 billion, reflecting heightened demand for gold exposure amid global uncertainty and outperforming many traditional equity benchmarks during the current rally.56