As global geopolitical relations become increasingly intense and complex, investors are seeking uncorrelated assets to enhance portfolio resilience. Since the Great Financial Crisis, central banks—particularly those in emerging markets—have been net buyers of gold to diversify away from USD-denominated assets. This trend has accelerated over the past three years, especially following sanctions on Russia. 

This event offered a deep dive into this question with Johan, Senior Quantitative Analyst at the World Gold Council and principal author of a key research paper on gold’s long-term expected returns. Johan shared valuable insights into the main factors influencing gold prices in 2025 and presented a reasoned framework for evaluating gold as an investment. He was joined by Robin Tsui, APAC Gold Strategist at SSGA, who played a pivotal role in expanding the presence of SPDR Gold ETFs in the APAC region through research, education, strategic positioning, and client outreach.