Gold has surged past US$4,000 an ounce in 2025 — its strongest year since the late 1970s. 

State Street Investment Management’s Robin Tsui explains why the rally isn’t just about safe-haven demand, but de-dollarisation, central bank buying, and a wave of geopolitical tailwinds. Plus, the outlook: how high gold could realistically climb in 2026.

This is general information only. Seek professional advice before making investment decisions.