Due to increasing instability, experts predict further growth in gold prices, which traditionally becomes popular among investors during difficult times. The main factors contributing to this include the worsening relations between the USA and NATO regarding Greenland and the ongoing conflict between Russia and Ukraine.
As noted by Reuters, the demand for gold has also been influenced by the threat of the USA imposing a 100% tariff on imports from Canada if that country signs a trade agreement with China.
In 2025, according to Reuters, the price of gold increased by 64% due to the easing of monetary policy in the USA, increased interest from the Chinese Central Bank, and a general rise in interest in precious metals from investors.
According to Bloomberg, since the beginning of the conflict between Russia and Ukraine in 2022, the value of gold reserves held by the Central Bank of Russia has increased by more than $216 billion. Gold accounts for about 43% of the reserves of the Bank of Russia, while before the start of the full-scale war, this figure was 21%.
Russia holds one of the leading positions among the world's gold producers. However, the export of the precious metal from the country is limited due to the sanctions imposed after the onset of military actions.
