Gold Hits Fresh Highs as Trump Policy Uncertainty Drives Investor Demand, Industry Data Shows

Gold demand hit record highs in 2025 as investors and central banks sought refuge from uncertainty surrounding U.S. President Donald Trump’s policies. Total purchases exceeded 5,000 tonnes, valued at $555 billion, marking a 45 percent increase compared with 2024, according to the World Gold Council.

Geopolitical concerns, trade tensions, and criticism of U.S. monetary policy contributed to a weakening dollar, prompting central banks to boost gold reserves. While the volume of central bank purchases fell slightly, their total value rose 13 percent, with gold now accounting for more than 20 percent of global central bank reserves, a level not seen since the early 1990s.

Investor interest in gold ETFs also supported demand, making the metal more accessible. Analysts expect the factors driving gold’s 2025 rally to continue in 2026, with prices reaching above $5,300 an ounce early in the year.