Discover how the gold price in global currencies performed in 2025. Compare gold in USD, EUR, GBP, CHF and JPY, and learn how currency movements shape real returns.

Gold Price in Global Currencies: 2025 Year-End Review

The Price of Gold in Global Currencies: 2025 Year-End Review

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 reached historic highs in 2025, marking one of the strongest years ever for the precious metal. Gold started January 2025 at 

However, looking only at the US-dollar gold price tells just part of the story. Investors in Europe, the UK, Switzerland and Japan experienced very different outcomes once 

In this year-end review, we analyse how gold performed across the world’s major currencies — 

 — and explain why currency movements play such a crucial role in real investment returns.

Gold Price in Global Currencies: 2025 Key Figures

 shows just how exceptional 2025 has been:

* Based on price changes between 1/1/25 and 1/1/26. 

These figures confirm that gold’s year-end strength was not limited to the dollar. Substantial gains were recorded across all major currencies.

Throughout 2025, gold repeatedly set new all-time highs. In October, it broke through the 

 barrier for the first time. Prices continued to rise into year-end, peaking at 

This marked the culmination of a multi-year uptrend that accelerated sharply in 2025 thanks to a particularly favourable macroeconomic environment for precious metals.

Gold’s exceptional performance across currencies was driven by three key forces:

Anticipation of monetary easing by the US Federal Reserve reduced the appeal of yield-bearing assets. In relative terms, non-yielding assets like gold became more attractive.

Because gold is priced globally in dollars, a 

 made gold cheaper for international buyers, boosting demand and supporting prices worldwide.

3) Inflation and Geopolitical Uncertainty

Persistent inflation in advanced economies, combined with geopolitical tensions, reinforced gold’s role as a 

 and a protector of purchasing power. In addition, continued gold buying by 

 in 2025 helped underpin prices, reinforcing gold’s role not only for private investors but also for national reserves seeking diversification away from fiat currencies.

Why Compare the Gold Price Across Currencies?

 is essential — especially for investors outside the United States.

In 2025, gold posted its strongest gains in 

, growth was slightly more moderate but still historically strong.

This shows that gold prices in euros, pounds or yen reflect 

The strength or weakness of the local currency

How Currency Movements Affect the Gold Price

Currency fluctuations can amplify or reduce gold’s performance for international investors.

, gold priced in that currency usually rises — even if the global USD price stays flat. Conversely, when a currency 

, local gold returns may appear more modest.

This is why two investors holding the same ounce of gold can experience 

, depending purely on where they live and which currency they use.

Why Investors Should Always View Gold in Their Own Currency

Annual table of gold performance in different currencies from 2010 to mid-December 2025: In Gold We Trust Report.

Long-term data confirms gold’s role as both a 

, gold delivered an average annual return close to 

 across major currencies, proving its ability to preserve purchasing power over time.

, gold continued to outperform many currencies in the long run. This is not only due to rising gold prices, but also to the gradual 

, driven by inflation, monetary policy and recurring economic shocks.

This clearly shows why gold performance must always be analysed in the 

, as exchange-rate movements can dramatically alter final results. While headline gold prices show 

, real returns, adjusted for inflation and currency movements, provide a more accurate picture of long-term wealth preservation.

a yellow car riding a green fluctuating curve representing fluctuating gold prices

, gold has risen substantially in every major currency. This reflects both:

Even after adjusting for inflation, the picture remains positive. In real terms, gold has preserved, and often increased, investors’ purchasing power, particularly in countries exposed to higher inflation and loose monetary policy.

Gold therefore plays not only a defensive role during times of crisis, but also a 

 in long-term wealth protection and diversification.

What 2025 Teaches Us About Gold in Global Currencies

2025 stands out as a landmark year for the 

, confirming the metal’s resilience in a complex economic and monetary landscape.

Performance was positive worldwide, with variations driven by exchange rates.

Comparing gold prices across currencies is essential to assess 

In times of economic and geopolitical uncertainty, gold reaffirmed its role as a 

Looking beyond a single year, 2025 reinforces a clear message: 

, able to adapt to monetary change and preserve purchasing power, regardless of the currency in which it is measured.

Why does the gold price change across currencies?

Currencies constantly fluctuate in value. Gold is priced globally in US dollars, but when that dollar price is converted into euros, pounds or yen, the local gold price adjusts to reflect the 

Is gold a good hedge against currency depreciation?

Yes. When a currency weakens, gold prices in that currency usually rise. This helps investors 

Why is the price of gold shown in US dollars?

Gold is traded worldwide in US dollars, making the dollar the 

 Gold is quoted internationally in US dollars, which serves as the reference price for all markets.

 The effect exchange-rate movements have on the local price of gold.

 Short-term price fluctuations in currencies or gold that influence investment returns.

Gold’s performance varies significantly depending on the 

Multi-currency comparison reveals trends hidden in USD-only charts.

Gold offers several powerful advantages as a store of value. Discover why more and more investors are turning to this precious metal.

What are the advantages of gold compared to other investments?

A look at the strong changes in demand in the gold sector y-o-y.

A Shift in Gold Demand Trends

Good thing central banks can't print gold. 😉

21.9% Annual Inflation... and Counting

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