Abstract:Global gold demand has surged to unprecedented levels in 2025, driven by geopolitical hedging and central bank accumulation.

Global demand for Gold (XAU/USD) has hit a record high in 2025, confirming the metal's enduring status as the premier hedge against systemic instability.
With major indices flagging “new risks”—as noted by the SARB—and emerging markets like Indonesia facing transparency crises, capital is rotating defensively.
The resilience of gold prices near historical peaks suggests that the “fear trade” remains a dominant theme in global macro allocations for the year ahead.