Name: Gold climbs near fresh record on fifth day of gains
Uploaded: 2025-12-15T16:20:47.804Z
Duration: 2 min 27 s
Description: Gold continued its longest winning streak since the run-up to an all-time high in October, rising for a fifth day Monday. Gold has surged about 65% this year and is on track for its best annual performance since 1979.

Gold continued its longest winning streak since the run-up to an all-time high in October, rising for a fifth day Monday. Gold has surged about 65% this year and is on track for its best annual performance since 1979.

Gold has climbed to over $4,300 per troy ounce, continuing a five-day streak of gains and approaching a new record high. Analysts note that while the current rally is significant, it remains modest compared to the gold surges of the late 1970s and early 1980s, though it has surpassed those periods in nominal terms.

The rise in gold prices is attributed to central banks, particularly in emerging markets, increasing their gold reserves amid concerns about the security of dollar assets following recent geopolitical events. This trend has expanded to retail investors, especially in Asia, with participation also rising in Europe and the US. Gold is seen as a hedge during periods of extreme inflation or deflation, and while alternatives like Bitcoin are considered, gold remains the preferred safe-haven asset due to its historical track record.

Gold climbs near fresh record on fifth day of gains

Can this rally be sustained? Well, I think you have to kind of stand back and look at the bigger picture. You know, the rally that we saw, for instance, in the late 70s and early 80s was something that was, you know, remarkable at the time. But if you look at today's rally in comparison, you know, it's still barely a scratch on that. I'm not obviously saying that necessarily it's going to go to the same extremes. We're already ahead of it in nominal terms. But in terms of when it's a regime shift, which is what I think we're in today, you have to keep an open mind. So, you know, I think it could be a slightly more tougher year for gold next year. Like it could be more volatile and there could be a pullback on the way there. But the fundamental reasons, I think, for the bull market remain intact. So what is driving this? What are those fundamental reasons? Why are we seeing gold at well over four thousand three hundred dollars a troy ounce? Yeah, I think there's quite a few things going on. I mean, the initial driver of the rally, the cycle was emerging market. Central banks started buying. I think they start to feel, especially after the financial crisis, but more so after the Russia-Ukraine war, that their risk of their assets, dollar assets being seized was something that they wanted to or didn't want to live with. So they started to diversify. Gold is obviously the natural thing for central banks to buy. But that has widened to retail traders. Retail traders are now starting to buy more and more gold out of Asia as well. I might add. And in Europe and the US, they were a little bit slow off the mark, but they certainly are participating right now as well. So you've got this rally that's kind of broadening. But what I think people are really worried about really is gold as a as a tail hedge. It's not only is it an inflation hedge when I say inflation, I mean extreme inflation. And it's also a deflation hedge as well. So the two tails of inflation is when gold tends to tends to do best. It's not an overall inflation hedge because when inflation is kind of petering around the middle and, you know, gold's not necessarily going to be the thing that's going to salvage your portfolio. But at extremes, it's something that is beneficial for portfolio. People think Bitcoin might be an alternative. But, you know, in this environment, I think it's untested. You know, Bitcoin may end up well pulling through the next kind of crisis that we have, whether it's governments debasing their currencies or there's some sort of private credit event and this debt deflation. But at the end of the day, you know, if you want to take insurance, you probably want to go for something that, you know, has worked in the past and that applies to gold.

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