Gold (XAU) is demonstrating an exceptional performance in 2025, distinguishing itself among major assets, including Bitcoin (BTC). However, the spotlight isn't solely on gold; its precious metal peers—silver, platinum, and palladium—are also posting substantial gains, surpassing BTC's returns.
Data from TradingView reveals impressive surges: gold's price has climbed 44% to an unprecedented $3,784, while silver has jumped 53% to $44.32 per troy ounce. Even more strikingly, platinum has advanced 60% to $1,452, and palladium has increased by 33% to $1,207.
In contrast, Bitcoin, frequently hailed as digital gold, has lagged behind these commodities, registering a gain of just over 20% to reach $113,000.
The year-to-date performance delivers a clear message: precious metals, with gold at the forefront, continue to be the preferred safe-haven assets and inflation hedges. This trend is fueled by a worsening fiscal outlook for advanced economies, growing threats to the Federal Reserve's independence, and the trade policies of President Donald Trump.
Furthermore, sustained buying by central banks diversifying into gold has provided significant momentum for the metal and its counterparts. An ECB study notes that global central banks collectively hold approximately 36,000 metric tons of gold.
This accumulation intensified after the coronavirus crisis and accelerated further following Russia's 2022 invasion of Ukraine—events that injected considerable inflationary pressure into the world economy. Over the last three years, central banks have been adding over 1,000 metric tons annually, a record pace more than double the average of the previous decade.
Bitcoin, however, has not yet secured a position on central bank balance sheets, limiting its recognition as a reserve asset. Additionally, the cryptocurrency's upward potential may be constrained by ongoing sell-offs from long-held wallets once prices exceed $110,000. These outflows have reportedly counterbalanced the inflows from Bitcoin ETFs.