Gold Rally

Extracted Attributes

• Nature

  Significant surge in the price of gold

• Record High Price

  Over $4,000 an ounce (as of Oct 2025)

• Central Bank Holdings

  Exceeded U.S. Treasury bonds

• Best Performance Since

  1979

• Status as Reserve Asset (2024)

  Second biggest after US dollar

• Associated Precious Metal Rallies

  Silver (record $49.57/ounce), Platinum (83.6% YTD), Palladium (60.5% YTD)

• Leading Central Bank Buyers (recent)

  China, Poland, Turkey, India, Azerbaijan

• Year-to-Date Increase (as of Oct 2025)

  51%

• Annual Central Bank Purchases (since 2022)

  More than 1,000 tonnes

Timeline

• The Gold Rally started, with the freezing of approximately $300 billion of Russian foreign holdings serving as a trigger point. (Source: CBS News, BBC)

  2022

• Central banks began collectively buying more than 1,000 tonnes of gold each year, a significant increase from previous averages. (Source: BBC)

  2022-01-01

• Gold overtook the euro as the second biggest reserve asset globally, following the U.S. dollar, according to a report from the European Central Bank in June. (Source: Reuters)

  2024

• Gold futures topped a record high of over $4,000 an ounce, putting the precious metal on track for its best year since 1979 with a 51% year-to-date increase. (Source: Axios)

  2025-10-08

• Gold prices rose by nearly 4% during a month-long government shutdown. (Source: BBC)

  During Trump's first term

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Web Search Results

• Gold's rally signals investors' eroding trust in the U.S. - Axios

  "People are starting to lose trust in institutions," says Ryan McIntrye, a senior managing partner at Sprott, which focuses on precious metals, adding that gold's rally comes as people are "reassessing what they view as safe." Gold's rally comes amid President Trump's trade war and, now, a government shutdown. [...] Why it matters: The rally in gold reflects investors' desire to diversify away from dollar-denominated assets as trust in the U.S. slowly erodes, they say. Driving the news: Gold futures on Tuesday topped a record high of over $4,000 an ounce for the first time, putting the precious metal on track for its best year since 1979 — a year of double-digit inflation, a Mideast oil crisis and the Soviet invasion of Afghanistan. So far this year, the price of gold is up 51%. [...] "For the rest of the world, we're weaponizing the tools of economic policy," El-Erian says. The concern is that slowly, over time, the rally in gold starts to indicate an eroding belief in "what makes the U.S. special," he adds.

• Why gold is having its biggest year since 1979 | CNN Business

  The gold rally reflects unease about the economy and lingering concerns about inflation, which has been stuck above the Federal Reserve’s 2% target for the past four and a half years. The United States has hiked tariffs to the highest level since the Great Depression, and Japan’s incoming prime minister has endorsed lower interest rates and higher borrowing. [...] “Global resilience has not yet been fully tested,” Kristalina Georgieva, managing director of the IMF, said in a speech on Wednesday. “There are worrying signs the test may come. Just look at the surging global demand for gold.” One of the biggest drivers of the rally in gold is the fact that the US dollar is having one of its worst years in decades. The dollar’s weakness has investors questioning the greenback’s long-held status as a global safe haven.

• Precious metals surge with gold's (2)4K magic in the air | Reuters

  Gold overtook the euro as the second biggest reserve asset in 2024 after the U.S. dollar, according to a report from the European Central Bank in June. Since then, the gold rally has lifted the value of central banks' bullion holdings above U.S. Treasury bonds. The IMF's most recent data for the second quarter show gold accounting for a record high of 24% of total assets, up from 23.3% at the end of the previous quarter. [...] Trump's policies raise global anxiety, boosting precious metals Gold rally lifts central banks' bullion holdings above U.S. Treasury bonds Silver at record, crosses $49/ounce Platinum year's best performing precious metal [...] Surprisingly, gold is the worst-performing of the four precious metals this year despite a rousing 53.8% year-to-date rally making it the hottest streak for bullion in almost half a century. Platinum has had an even better year, leading the pack with an 83.6% rise year-to-date. Spot silver hit a record high of $49.57 this month after a 70.4% rally during the same period. And basking in a surge last month, palladium is up 60.5%.

• Here's what gold crossing $4,000 is telling us about the U.S. economy

  "The gold rally started in 2022," Giovanni Staunovo, commodity analyst at UBS Global Wealth Management, said via email on Tuesday. The "trigger point" for the increase was when the U.S. and other Western allies moved to freeze around $300 billion of Russian foreign holdings at the beginning of the war in Ukraine, he added.

• Gold surges past $4000 an ounce as uncertainty fuels rally - BBC

  It rose by nearly 4% during the month-long shutdown in Trump's first term in the White House. But gold prices could fall if the shutdown ends more quickly than some investors are expecting, said Mr Wong. Gold's "unprecedented rally" in the past month has surpassed analysts' expectations, said UOB bank's head of markets strategy Heng Koon How. He added that the rise is also tied to the weakening US dollar and more non-professional buyers, known as retail investors, purchasing gold. [...] Although the current surge in gold prices has been triggered by short-term uncertainty, the overall strength of gold is largely the result of central banks buying it as a strategic move away from US treasuries and over-reliance on the strength of the dollar. Central banks havecollectively bought more than 1,000 tonnes of gold each year since 2022, up from an average of 481 tonnes a year between 2010 and 2021. Poland, Turkey, India, Azerbaijan and China were among the leading buyers last year. [...] "Gold is often seen as a hedge against uncertainty, but the hedge can be unwound." And in 2022, gold's value plunged from $2,000 to $1,600 an ounce, after the US central bank raised interest rates to curb the inflation triggered by the Covid-19 pandemic, said UOB's Mr Heng. A key risk to gold's current rally is a sudden resurgence in inflation, which could prompt the Federal Reserve to raise rates, he added.