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The gold price reached a record high of $4,533 per ounce in December 2025 and has since surpassed $4,642.58 this month. ASX ETFs tracking physical gold or mining indices delivered triple-digit returns in 2025, driven by central banks buying gold amid geopolitical uncertainty and expectations of further interest rate cuts. The Betashares Global Gold Miners Currency Hedged ETF and VanEck Gold Miners AUD ETF gave total returns of 149% and 139%, respectively, with Newmont Corporation being the largest holding in both funds.

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