In the latest Take 5, hosts Ryan Detrick, Chief Market Strategist, and Sonu Varghese, VP, Global Macro Strategist, dig into why gold has been shining so brightly over the past three years and what that means for investors. From inflation protection to central bank buying, and the surprising ability for stocks and gold to rise together, they unpack the key drivers behind this glittering trend.
Key Takeaways
- Gold has surged 13% in 2023, 26% in 2024, and 35% so far in 2025, supported by strong central bank buying.
- Central banks now hold more gold than U.S. Treasuries — a major historical shift.
- Both stocks and gold can rise together, especially in inflationary or high-deficit environments.
- Stocks remain the best long-term inflation hedge, but gold provides valuable portfolio diversification.