Gold is the interpreter out of competition of 2025, climbing more than 33%.
It is three times the gain in the Nasdaq 100 index and almost double Bitcoin (BTC) performance. In practice, this means that it only takes 31.2 ounces of gold to buy a BTC, a measure known as the BTC-XAU report, down 40 ounces last December.
Metal, generally used as a haven in time of financial stress, was supported by the drop in state bond yields in major Western economies, the reflection of high debt charges, persistent inflation problems and slowdown in growth. These dynamics reinforce the historic role of Gold as a reserve of value and emphasize why it undoubtedly deserves to be the reference in relation to which all other investments are measured.
Technical analysis shows that the BTC-XAU report has been consolidated within a large ascending triangle, a bullish continuation scheme that has been formed since 2017. The ratio at the end of 2024 peeks in mirror observed at the end of 2021, but has since corrected about 25%. The structure now indicates a potential escape at the end of the fourth quarter or at the beginning of next year.
Above all, the previous cycles in this ratio experienced serious titles – 84% in 2019, 75% in 2020 and 78% in 2022 – before the creation of new heights. The current withdrawal is much less deep, suggesting an underlying force and maintaining the long-term optimistic case intact.
