Gold's Historic 2025: Strongest Run in Over Four Decades Amid Global Uncertainty

• Gold delivered its strongest annual performance in over four decades in 2025, surging 66-74%.
• The rally was driven by global uncertainty, geopolitical risk, shifting monetary policy, and sustained institutional demand.
• Central banks and ETFs were key buyers, with central banks diversifying reserves and investors seeking safety.
• Higher prices reshaped the jewellery market, softening discretionary purchases but boosting investment-led demand.
• Experts predict consolidation, not reversal, with UBS forecasting $5,000 per ounce by September 2026.

Why It Matters: Gold had a defining year in 2025, driven by global uncertainty and strong institutional demand.