Safe Haven or Too Late to Buy? Experts Weigh In on Gold’s Record-Breaking Run

Gold prices have soared to unprecedented heights in 2025, breaking more than a dozen records and currently trading above $3,200. As investors seek safety amid economic uncertainty, CNBC consulted with financial experts on whether it’s still a good time to buy.

Expert opinions remain divided. Sameer Samana of Wells Fargo Investment Institute cautions that gold is “overbought” and investors are “coming late to the party,” suggesting prices may have peaked. However, Jordan Roy-Byrne of The Daily Gold offers a contrasting view, predicting that prices “could accelerate” further in the coming years.

For those looking to invest, financial advisors typically recommend exposure through gold ETFs like SPDR Gold Shares or iShares Gold Trust rather than physical gold. Most suggest limiting gold allocation to around 3% of a portfolio. While gold tends to perform well during inflationary periods, experts note it historically underperforms during recessions compared to bonds.

Despite this advice, consumer interest in physical gold has surged dramatically. Costco’s gold bar sales reportedly generate up to $200 million monthly. High-quality gold jewelry, particularly from luxury brands like Cartier and Tiffany, offers both personal enjoyment and potential investment value.

CNBC’s Financial Advisor Council members emphasize portfolio diversification while acknowledging gold’s role as a hedge. Winnie Sun advises clients to prioritize cash reserves and emergency savings before adding gold positions. Meanwhile, Lee Baker notes rising client interest in gold as part of the “fear trade” during current market volatility.