Why is everyone buying gold?

为何众人竞相购金?

The Indicator from Planet Money

2025-10-01

9 分钟
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单集简介 ...

Gold is on fire right now with some gold ETFs outperforming the major stock indexes over the past 12 months. Gold is supposed to be boring, an inflation hedge. But right now, it's responding to something else. Today on the show, we talk to a finance professor about what’s behind the current gold rush and if gold’s hot streak is built to last.  Understanding Gold by Claud B. Erb and Campbell R. Harvey Related episodes:  A new-ish gold rush and other indicators Gold Rush 2.0 A secret weapon to fight inflation For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.   Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy
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  • Hey everyone, it's Adrian Mahir with Darian Woods and Waylon Wong.

  • Before we start,

  • we just wanted to say that this is the first day NPR has gone without federal funding in over 50 years.

  • To me, NPR has always been a jewel in America's crown,

  • like something that I'm proud to keep protecting even after the federal funding has stopped.

  • Here on The Indicator,

  • we're going to keep reporting and explaining the economy so all our listeners can better understand the forces making the world go round.

  • Thank you for listening and on with the show.

  • NPR.

  • This is The Indicator From Planet Money.

  • I'm Darian Woods.

  • And today I'm joined by financial podcaster, former co-host of Motley Fool Money, Ricky Mulvey.

  • Hey, Darian.

  • Good to see you.

  • Likewise.

  • And you are here to talk about gold.

  • Yeah, because gold has been a real economic mystery to me.

  • Think back to the pandemic,

  • where inflation is really shooting up and gold moved a little, but not a lot.

  • And that's what's kind of supposed to happen.