Sprott Physical Gold

PHYS

Market cap $17B

Sprott Physical Gold Trust is rated a Strong Buy for 2026, offering direct exposure to physical, allocated gold bullion in London. Gold surged over 73% in 2025, reaching uncharted highs above $4,500/oz, driven by central bank buying and fiat currency debasement. PHYS closely tracked gold's performance, rising 72.94% in 2025, with minimal drag from its 0.41% management fee covering storage and insurance.

Gold prices hit an apex in October before taking a breather as 2025 winds down — a chance for investors to buy the dip. This could be a golden opportunity to get exposure to a pair of ETFs before another rally ensues: the Sprott Physical Gold Trust (PHYS) and the Sprott Gold Miners ETF (SGDM).

The holiday season not only presents an opportunity to spend time with loved ones, it also allows investors to tilt their portfolios towards assets that can capture short-term upside. One of those is gold.

TORONTO, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Sprott Asset Management LP (“Sprott Asset Management”), a subsidiary of Sprott Inc., on behalf of the Sprott Physical Gold Trust (NYSE: PHYS) (TSX: PHYS / PHYS.U) (the “Trust”), a closed-ended mutual fund trust created to invest and hold substantially all of its assets in physical gold bullion, today announced that it has updated its at-the-market equity program to issue up to U.S.$2 billion of units of the Trust (“Units”) in the United States and Canada.

In cases where an asset is in the midst a strong rally, investors are typically gripped with the fear that they already missed out on the major move. That doesn't appear to be the case with gold, which should be approached with a strategic allocation strategy in mind as opposed to simply chasing gains.

It's no secret at this point that the price of gold has undergone tremendous performance as of late. In September, the price of the precious metal rose almost 12% to $3,859, an all-time high.

Gold doesn't appear to be losing its luster. The the precious metal hit another record high today by crossing the $4,000 per ounce price mark.

The Federal Reserve's recent rate cut of 25 basis points could amplify gold's current rally. Prices have already broken through the $3,700 price mark, and another record high could hinge upon how aggressive rate cuts will be in the coming months.

The prospect of interest rate cuts this month and through the rest of the year is elevating prices for gold, but silver is also benefiting. The precious/industrial metal crossed the $40 price mark in the first week of September, which it hasn't done since 2011.

Gold is in a secular bull market, driven by global de-dollarization and strong investment demand, especially from China and central banks. Despite a sharp rally, gold and PHYS show no signs of retail mania, with trading volumes and coin sales remaining subdued. China's mandate for insurance companies to allocate to gold could significantly tighten global supply, supporting higher prices.