It’s no secret that the price of gold has seen a significant rally throughout the later months of 2025. However, the question remains: will the precious metal continue its dominant performance in the new year?
To answer that question, it’s likely best to examine the conditions that are driving the performance of gold in the first place. There were a multitude of different factors at play, such as deepening geopolitical tensions, interest rate cuts, and even a weaker bitcoin price.
However, one of the key conditions paramount to gold’s 2025 rally has been the weakening outlook for the U.S. dollar. Much like the gold rally, the weaker dollar outlook is due to a plethora of different potential factors, like softer U.S. growth, concerns over macroeconomic policy, and increased hedging of U.S. assets, among others.
The future of the U.S. dollar will likely play a key role in determining how gold performs throughout 2026. Fortunately for gold investors and gold miners alike, the conditions driving a weaker dollar outlook seem pretty likely to stay in place for the foreseeable future.
This should give investors and advisors some much-needed confidence about sticking with gold for the time to come. Better yet, there’s a few different ways to play at gaining exposure to the gold rally, beyond simple exposure to physical gold.
Two Gold Miner ETFs for Riding the Gold Wave
For instance, one could look towards the Sprott Gold Miners ETF (SGDM ). SGDM looks to offer distinct access to larger gold mining companies listed on either Canadian or U.S. exchanges.
Fortifying portfolio exposure to gold mining companies can make a great deal of sense for capitalizing on the gold rally. These companies can offer a differentiated way to tap into the significant opportunity in the gold space.
Alternatively, the *Sprott Junior Gold Miners ETF (SGDJ )*+ may also offer a potent use case. Unlike SGDM, SGDJ instead focuses its investment exposure towards small-cap gold mining companies.
Considering how strong gold has been performing as of late, betting on small-cap gold companies could offer a significant payoff. After all, these companies may have deep growth potential to an extent even farther than traditional large-cap gold mining stocks.
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The Sprott Physical Gold Trust and the Sprott Physical Gold and Silver Trust are generally exposed to multiple risks that have been both identified and described in each trust’s prospectus. Please refer to the prospectus for a description of these risks. This material must be preceded or accompanied by a prospectus. For an additional copy of each prospectus please visit https://sprott.com/media/1bhoasnr/phys-prospectus-en.pdf and https://sprott.com/media/1nfpxlpx/cef-prospectus.pdf.
Past performance is no guarantee of future results. One cannot invest directly in an index.
Sprott Asset Management USA, Inc. is the Investment Adviser to the ETFs. ALPS Distributors, Inc. is the Distributor for the ETFs and is a registered broker-dealer and FINRA Member. ALPS Distributors, Inc. is not affiliated with Sprott Asset Management USA, Inc. or VettaFi.
Exchange Traded Products (ETFs): SETM, LITP, URNM, URN, COPP, COPJ, NIKL, SGDM, SGDJ, SLVR, GBUG, METL
Physical Bullion Funds: PHYS, PSLV, CEF, and SPPP.
Gold and precious metals are referred to with terms of art like store of value, safe haven and safe asset. These terms should not be construed to guarantee any form of investment safety. While “safe” assets like gold, Treasuries, money market funds and cash generally do not carry a high risk of loss relative to other asset classes, any asset may lose value, which may involve the complete loss of invested principal.
