The In Gold We Trust Report 2025: Why Gold Matters
In case you missed it earlier this year, one of the most widely read and anticipated annual studies on precious metals was released: the In Gold We Trust Report. Produced by Incrementum AG and authored by Ronald-Peter Stöferle and Mark J. Valek, the report has become a cornerstone publication for anyone following gold, silver, and global monetary trends.
For nearly two decades, the report has examined how debt, inflation, central bank activity, and geopolitical change influence the role of gold in the world economy. Each edition draws attention from central banks, institutional investors, and precious metals retailers alike.
At First Gold Group, we look forward to the In Gold We Trust Report each year because it offers a wealth of data, context, and analysis that reinforces why gold remains a timeless asset. More importantly, it gives us the opportunity to share highlights and insights with clients who are exploring gold coins, gold bars, silver bullion, and other precious metals for their retirement planning.
First Gold Group’s Perspective on the Report
While the report covers many complex financial issues, what stands out each year is its balanced view: gold is not promoted as a cure-all but as a timeless anchor of value in times of uncertainty. That’s why we at First Gold Group find it valuable to examine the report’s insights alongside the real-world experiences of our clients who invest in gold coins, gold bars, and precious metals IRAs.
Key Themes from the 2025 Report
The 2025 report explores many global trends, but several themes stand out for anyone interested in gold investment and precious metals.
Global Debt and Monetary Policy Pressures
The authors highlight that global debt levels continue to climb. Governments worldwide are managing debt by keeping interest rates artificially low or by allowing inflation to erode the real value of obligations. In such an environment, tangible assets like gold historically retain value while currencies lose purchasing power.
Currency Devaluation and Dedollarization Trends
Another major theme is the shift away from U.S. dollar dominance. Countries within the BRICS alliance and other emerging economies are exploring ways to settle trade without the dollar. This dedollarization trend has sparked renewed interest in gold bullion and reserves as a neutral settlement asset.
The Role of Central Banks in Gold Buying
Central banks remained net buyers of gold in 2024, continuing a decade-long pattern. This demand is significant because it shows that even monetary authorities view gold as an essential reserve asset. Their accumulation supports the long-term case for gold bars and coins as part of a diversified strategy.
Gold’s Strategic Role in Today’s Economy
Hedge Against Inflation and Uncertainty
Incrementum’s report emphasizes what many investors already know: gold has historically acted as a hedge against inflation. During periods when paper currencies decline in value, gold often provides stability.
Why Gold Bars and Gold Coins Remain Attractive
The report notes that gold’s appeal is not just theoretical. From American Gold Eagle coins to PAMP Suisse gold bars, demand is robust because these products are trusted, recognizable, and easily tradable. For retail investors, coins and smaller bars remain popular choices, especially within precious metals IRAs.
Gold as Tangible Wealth Compared to Equities
While equities can deliver growth, they also expose investors to volatility. Gold is different: it is a physical asset, not a promise on paper. Incrementum reminds readers that gold often performs well during financial crises when stock markets falter.
Silver, Platinum, and Palladium in the Spotlight
Although gold is the focus, the In Gold We Trust Report also examines other precious metals.
Silver’s Dual Role: Investment and Industry Demand
Silver remains unique, straddling two markets. On one hand, it is a precious metal investment favored in the form of silver coins and silver bars. On the other, it plays a vital industrial role in electronics, solar panels, and medical technology. This dual demand can create volatility, but it also underscores silver’s importance in modern economies.
Platinum and Palladium in Global Supply Chains
Platinum and palladium are less discussed but no less important. Both are critical in automotive and industrial applications, particularly in catalytic converters. Supply constraints and geopolitical factors influence their markets, and the report highlights them as strategic metals worth monitoring.
Diversification with Multiple Precious Metals
By including sections on silver, platinum, and palladium, Incrementum reinforces that diversification within precious metals can broaden the protective qualities of a portfolio. For IRA investors, holding a mix of approved coins and bars can complement gold’s stability.
Central Bank Gold Buying Trends
Record Purchases Driving Market Support
One of the most striking findings in the 2025 report is the sustained pace of central bank buying. Nations from Asia to the Middle East continue to add to their reserves, often at record levels.
Why Nations Hold Gold Reserves
The reason is simple: gold carries no counterparty risk. Unlike government bonds or foreign currencies, gold bars stored in a central bank vault cannot default. This characteristic is precisely why central banks treat gold as a strategic reserve.
Implications for Precious Metals Investors
For retail investors, central bank behavior is a powerful signal. If the institutions that manage currencies continue to stockpile gold, it underscores why many individuals choose to add gold bullion or gold IRA accounts to their own holdings.
Inflation, Interest Rates, and Gold’s Resilience
Historical Performance in High-Inflation Periods
The report examines decades of data showing that gold often holds its value during inflationary cycles. Even when interest rates rise, the sheer weight of global debt limits how far central banks can tighten without economic strain.
Precious Metals as a Store of Value
In this context, gold coins, silver bars, and platinum bullion act as stores of value outside the financial system. They are not dependent on a company’s earnings or a government’s fiscal policy.
Comparison with Bonds, Stocks, and Cash
Incrementum also compares gold’s performance to other asset classes. While stocks and bonds have their role, they carry risks tied to markets and governments. Cash loses purchasing power over time. Gold and silver remain finite resources with intrinsic value.
Geopolitical Shifts and Gold’s Renewed Importance
BRICS and Dedollarization Strategies
Geopolitical alliances like BRICS are actively developing frameworks to reduce reliance on the U.S. dollar. The report notes that gold, as a neutral and universally accepted asset, is a natural alternative.
Safe-Haven Demand During Conflict and Instability
From regional conflicts to trade wars, global instability drives demand for safe-haven assets. Incrementum documents how each geopolitical shock over the past decade has been accompanied by a surge in gold demand.
Long-Term Implications for Gold Prices
While the report avoids predicting exact price targets, it makes clear that the structural forces of debt, dedollarization, and instability all point toward a long-term supportive environment for gold.
The Outlook for Gold and Precious Metals in 2025 and Beyond
Incrementum’s Key Forecasts for Gold
The authors suggest that gold will remain a cornerstone asset in the years ahead, particularly as trust in fiat currencies and government debt continues to erode.
Silver and Other Metals in the Coming Decade
Silver’s industrial role is expected to grow with the expansion of green energy technologies. Platinum and palladium may experience supply bottlenecks that support higher demand for alternative applications.
Opportunities for Precious Metals Retail Investors
For those who purchase gold coins, silver bars, and other bullion products through retailers or within Gold IRAs, these long-term trends highlight why precious metals continue to be relevant in retirement planning discussions.
How First Gold Group Shares These Insights with Clients
Expertise in Precious Metals and Gold IRAs
At First Gold Group, we closely follow the In Gold We Trust Report because it reinforces what we see in the marketplace: growing interest in physical gold and silver ownership.
Education on Gold Coins, Silver Bars, and Bullion Products
Our role is to educate clients about the range of IRA-eligible gold, silver, platinum, and palladium products available. From American Gold Eagles to 10 oz silver bars, understanding which products meet IRS standards is an important part of the process.
Making the Precious Metals IRA Process Easy
First Gold Group’s value lies in deep knowledge of the process and long-standing relationships with industry-leading custodians and depositories. This allows us to guide clients through the logistics of establishing a self-directed precious metals IRA with clarity and confidence.
By coordinating with trusted custodians and secure storage facilities, we ensure that each account is handled in a manner that is transparent, compliant, and efficient.
Conclusion
The In Gold We Trust Report 2025 once again underscores the enduring role of gold and other precious metals in a changing financial landscape. Its analysis of debt, inflation, central bank activity, and geopolitical shifts highlights why so many continue to view gold coins, gold bars, and silver bullion as meaningful assets in today’s uncertain world.
If you have questions about the themes covered in this year’s report or would like to learn more about the products and processes available, we invite you to call First Gold Group at 800-310-6126. We look forward to being your trusted source for precious metals education, updates, and industry news.
Source: Incrementum AG, Ronald-Peter Stöferle & Mark J. Valek, “In Gold We Trust Report 2025,” May 2025. Access to the full report is provided here.