Gold Shines in 2025: Central Banks Increase Bets Against the Dollar

Global financial markets witnessed a remarkable phenomenon in 2025: gold appreciated by over 64%, marking its best annual performance since 1979. This surge in the precious metal’s prices is not a coincidence but a reflection of a profound structural change in how governments around the world perceive and accumulate their wealth reserves.

Investment Record: How Gold Surpassed 64% Return

Gold’s appreciation in 2025 was driven by an unprecedented phenomenon in recent decades: global central banks purchased unparalleled amounts of the yellow metal. According to data from the World Gold Council, 95% of these monetary institutions plan to continue acquiring gold in the coming years, transforming this asset into the star of international reserve portfolios.

Ray Dalio, founder of Bridgewater Associates, one of the most influential investment firms on the planet, commented that gold is positioning itself as the preferred reserve asset for governments, gradually replacing traditional assets denominated in US dollars, such as American Treasury bonds.

Central Banks Redefine Reserves: From the Dollar to Gold

This shift in preference reflects a broader trend known as de-dollarization. Data from the International Monetary Fund reveal that the US dollar’s share in global foreign exchange reserves has plummeted below 60%, reaching its lowest levels in several decades. This historic break signals a gradual erosion of confidence in the US currency as a pillar of international financial stability.

Central banks see gold as a strategic counterbalance: unlike Treasury bonds or any dollar-denominated financial assets, gold is not exposed to sovereign credit risk of any country. In other words, it is tangible wealth without a debt counterpart.

De-dollarization in Numbers: Why Gold is the New Currency of Trust

The World Economic Forum dedicated entire sessions to discussing this reconfiguration of global monetary reserve strategies. The accumulation of gold by global monetary authorities represents not only a financial bet but also a clear geopolitical positioning: the pursuit of independence from US monetary policy and the Federal Reserve.

This redistribution of demand in gold markets is reshaping the entire sector, from investment flows to future speculation. With 95% of central banks committed to continuing this movement, gold’s trajectory appears solid. The precious metal, historically a refuge in turbulent times, is becoming the pillar of a more decentralized and multipolar global financial architecture.