Best and worst asset classes of 2025. Gold wins the year
Gold is this year's winner while oil and crypto have faced headwinds.
TL;DR
- Gold was the best-performing major asset class in 2025.
- Factors driving gold's performance include geopolitical instability, central bank buying, and worries about institutional independence.
- The SPDR Gold Shares ETF gained about 64% in 2025.
- MSCI All Country World ex-US advanced nearly 29%.
- Invesco Nasdaq 100 rose about 21%.
- The iShares Bitcoin Trust ETF lost nearly 7%.
- United States Crude Oil Fund is down about 8%.
- U.S. crude oil prices fell more than 18% due to a production surplus.
- Bitcoin reached an all-time high in early October but lost its gains due to liquidations and economic uncertainty.