#BTC资金流动性 $BTC market fluctuations behind: Why is gold expected to continue strengthening in 2025?

The recent surge in gold prices seems abrupt, but it is actually the result of multiple forces acting simultaneously. First, central banks are serious about this—central banks around the world have been increasing their gold reserves since 2022, treating it as a tool to optimize the structure of foreign exchange reserves and hedge against currency risks. In simple terms, they are defending against the instability of the monetary system.

Secondly, the increasing geopolitical tensions and trade frictions have instinctively driven investors towards safe-haven assets. Coupled with the anticipated pricing of the Federal Reserve's interest rate cut cycle, the ongoing high debt issues in the United States are also continuously fueling the rise in gold prices.

Data speaks for itself. The latest report from the World Gold Council shows that in November alone, global physical gold ETFs saw inflows of $5.2 billion, marking the sixth consecutive month of net inflows. By the end of November, the assets under management of global gold ETFs surged to $530 billion (a month-on-month increase of 5.4%), with total holdings reaching 3,932 tons (a month-on-month increase of 1%), both figures hitting historic highs. At this momentum, the global gold ETF capital inflow this year is likely to break records.

Looking ahead, the central banks' enthusiasm for buying gold will not cool down. The process of de-dollarization is still advancing, and the fiscal debt pressures of major economies have not eased. The value of gold as a credit hedge tool will only become more prominent. The underlying logic of this bull market has not been broken.