Global monetary order restructuring: Why is gold set to be the biggest winner in 2025?

【Blockchain Rhythm】 Recently at the Davos World Economic Forum, a renowned investor proposed a thought-provoking view — the global monetary order is undergoing dramatic changes.

How to understand this change? Simply put, in the past, everyone considered fiat currency and bonds as the safest “piggy banks.” But now, the situation has reversed, and central banks around the world are beginning to suspect that these “piggy banks” might contain a “time bomb.” Look at 2025’s best performer—not technology stocks, but gold, which has surged and outperformed other assets. The yields in the US market are even being left behind by overseas markets.

What is behind this? Essentially, it’s a capital game. The rise of gold is not just numbers moving; it reflects a shift in market expectations — US bondholders are starting to feel uneasy. On one side, the US government is printing money endlessly to expand, and on the other, the purchasing power of US debt continues to depreciate. What is the US government afraid of? They fear large-scale selling of dollar assets. What do US bondholders fear? They fear that the Federal Reserve’s printing press will never stop.

The question is: if major global economies start reducing their holdings of US debt, how will the US respond? When will this turning point occur? These are the critical questions that market participants must seriously consider.