Gold is set for its best year since Jimmy Carter was president
CNN••business
Key Points:
- Gold futures in New York have surged nearly 71% in 2025, marking the best annual gain since 1979 amid global economic and geopolitical uncertainties such as the Russia-Ukraine war and US trade tensions.
- Investors view gold as a safe haven asset that retains value during crises, inflation surges, and currency devaluations, with expectations of Federal Reserve rate cuts further boosting gold's appeal over bonds.
- Central banks, led by China, are significantly increasing gold reserves to reduce reliance on US dollar assets, a trend driven by geopolitical factors like the freezing of Russian assets following its invasion of Ukraine.
- Other precious metals, including silver, platinum, and palladium, have also experienced substantial price gains in 2025
