Since ancient times, gold has been considered a timeless symbol of prosperity, power, and financial security. For states seeking autonomy and stability, it remains a valuable reserve tool. Particularly in times of international turmoil, its value comes back into sharp focus as it is recognised as a haven investment. An illustrative example is the recent turmoil caused by trade tariffs, which has brought gold back into the focus of investment interest. The huge reserves of some nations are testament to the geo-economic importance of the precious metal.

Since Donald Trump’s first inauguration in January 2017, the price of gold has risen more than 25%, while the S&P 500 index has fallen nearly 7%. This spike is mainly attributed to escalating international tensions and intense uncertainty in the markets, driving the metal’s price to unprecedented heights, up to $1 million per bar. In 2024 and the first quarter of 2025, CEOWORLD and COSMOS Analytica studied central bank reserves, based on data from the World Gold Council (WGC).