According to The Kobeissi Letter, gold futures have surged to a record $3,825 per ounce and are up 42% year-to-date in 2025, marking a new high that traders are tracking for momentum and trend-continuation setups (source: The Kobeissi Letter on X, Sep 23, 2025). The Kobeissi Letter adds that gold’s 2025 gain is roughly three times the S&P 500’s return, a notable cross-asset relative-strength signal for asset allocators and hedging strategies (source: The Kobeissi Letter on X, Sep 23, 2025).