Gold (XAU) had a remarkable race this year, standing among the main active ingredients, in particular . But it is not only gold – its precious silver counterparts, platinum and palladium have also experienced strong gains, surpassing the BTC.
While Gold’s price jumped 44% to a record of $ 3,784, Silver gained 53% at $ 44.32 per Troy Oce, according to Data Source TradingView. If that is not enough, Platinum has gained 60% at $ 1,452, while the Palladium increased from 33% to $ 1,207.
Meanwhile, Bitcoin, often presented in digital gold, failed to keep up with the pace of precious metals, increasing just over 20% to $ 113,000.
The verdict is clear when we consider the performance of the year: precious metals, directed by gold, remain essential refuges and hedges of inflation in the midst of deterioration of tax perspectives for advanced economies, a growing threat to the independence of the Fed and the trade war of President Donald Trump.
In addition, central banks diversifying in gold have provided a major rear wind for metal and its precious counterparts. The world’s central banks cumulatively hold around 36,000 metric tonnes of gold, according to a study by the European Central Bank.
Their purchase meat embarked on the wake of the coronavirus crisis and accelerated more after the invasion of Ukraine in 2022 by Russia, the two events injecting inflationary pressures into the world economy. Over the past three years, they have added more than 1,000 metric tonnes per year, a record rate which is more than double the average of the previous decade.
Bitcoin, however, has not yet won its place on the assessments of central banks, limiting its reserve role. In addition, cryptocurrency earnings may have been capped by continuous liquidations / distributions by old portfolios greater than $ 110,000. These flows would have compensated for ETF entries.
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