ETFs: Gold mine trackers with prices doubling

With gold prices above 3,800 US-Dollars, gold mining ETFs are in demand like never before. Defense trackers are also proving popular. Long-maligned emerging market stocks are making a comeback. 

30 September 2025. FRANKFURT (Börse Frankfurt).When it comes to specific themes in ETF trading, the focus is currently on gold and silver – and the defense industry. Both gold and silver mining ETFs and precious metal ETCs are currently extremely popular, according to traders. Frank Mohr of Société Générale reports a clear buying surplus for the ETF market as a whole, particularly in the area of US and global equities. “The demand for emerging market ETFs is striking,” adds the trader.
The price of gold recently climbed to a new record high of $3,872, and at midday on Tuesday it was still at $3,802. The stock markets are mixed: Wall Street is showing signs of slowing down after last week's record run, with the looming shutdown making itself felt. The DAX continues to trend sideways, standing at 23,718 points on Tuesday afternoon.

MSCI Emerging Markets at four-year high

In trading with equity ETFs, US and global equities once again account for the largest share, as Mohr reports. S&P 500, MSCI World, and FTSE All World ETFs from iShares, Vanguard, and SPDR are popular. Interest in European equities is somewhat more subdued, especially via Stoxx Europe 600 and MSCI Europe index funds. 

“Emerging market ETFs still only account for 5 percent of sales, but their share has risen significantly recently,” Mohr adds. The iShares Core MSCI EM (IE00BKM4GZ66) and its ESG variant (IE00BFNM3P36) as well as the Fidelity Emerging Markets Quality Income (IE00BYSX4739) are also performing well. The MSCI Emerging Markets index has gained 24 percent since the beginning of 2025 and is approaching its all-time high of 2021.

Interest in platinum and palladium now also growing

Due to the rally in gold prices, there is also a lot of interest in gold mining ETFs. “These are clear buys,” Mohr notes. VanEck Gold Miners and VanEck Junior Gold Miners (IE00BQQP9F84, IE00BQQP9G91) are in demand, for example. Ivo Orlemann of ICF Bank also reports strong interest in gold mining trackers from VanEck and L&G (IE00B3CNHG25), as well as silver mining ETFs (IE000UL6CLP7) and classic gold and silver ETCs. Michael Norizin of Lang & Schwarz can confirm this. “A new development is the increased demand for platinum and palladium ETCs,” he adds, citing the WisdomTree Platinum 2x Daily Leveraged ETC as an example (JE00B2NFV134).