In two decades, gold has increased eightfold in value. What was seen twenty years ago as a traditional precious metal is now a strategic asset for investors and central banks. According to data from Goldprice.org, between September 2005 and September 2025, the price of gold in dollars has risen by +707%. This explains why more and more savers are turning to this asset as a refuge from economic instability.

In 2005, an ounce of gold was trading at around $400-450. Today, its price stands at around $3,770 to $3,800 per ounce, according to the latest international quotes. This means that a €10,000 investment in gold in 2005 would be worth around €85,000-€90,000 today. All this in a period marked by financial crises, expansionary monetary policies and geopolitical tensions.

This growth has not been linear. The price of gold has experienced sudden rises and significant corrections, but the underlying trend has always been positive. For example, after exceeding €1,900 in 2011, gold fell to €1,050 in 2015, before resuming a new upward trend. This shows that, despite its strength as a safe haven, it is also subject to cycles and periods of high volatility.

Another relevant factor is its behaviour in the face of inflation. If we consider that the purchasing power of the pound sterling has fallen by around 40% over the last twenty years, the revaluation of gold more than compensates for this loss. In other words, it has not only protected your savings against inflation, but has also generated a substantial real gain. This is why many experts recommend including a portion of gold in any diversified investment portfolio.

Key factors in the revaluation

• The 2008 financial crisis. The collapse of Lehman Brothers and the global banking system triggered a flight to safe assets. Gold skyrocketed, exceeding £1,000 per ounce for the first time.

• Massive money printing. Central banks, especially the US Federal Reserve and the European Central Bank, have flooded the market with liquidity. Low interest rates and growing public debt have undermined confidence in fiat currencies.

• Inflation and loss of purchasing power. The rising cost of basic goods and energy, especially after the pandemic and the war in Ukraine, has reinforced gold as a hedge against persistent inflation.

• Geopolitics and de-dollarisation. More and more countries, led by China and Russia, are reducing their dependence on the dollar and accumulating gold reserves. According to the World Gold Council, central banks have purchased record amounts of the metal in recent years. 

Comparison with other assets

• Stock market: The S&P 500 index has also grown strongly over the last twenty years, but with greater volatility and sharp declines (2008, 2020). Gold, on the other hand, has maintained a more stable trend.
• Sovereign bonds: Ultra-low interest rates have reduced real returns, especially in periods of high inflation.
• Cryptocurrencies: Despite the explosion of bitcoin, which has seen astronomical increases in a short period of time, its extreme volatility and lack of institutional support set it apart from gold, which remains universally accepted. 

A historical safeguard

Gold has a millennia-long history as a store of value. From the classic gold standard to the Bretton Woods system, this metal has been at the heart of the global monetary system. Today, without being tied to any currency, it is precisely its independence from governments and central banks that makes it so attractive.

According to the World Gold Council, by the end of 2022, central banks had accumulated more than 35,000 tonnes of gold, valued at nearly €2 trillion. It is the third most important reserve asset in the world, behind only the dollar and the euro.

Looking to the future

Forecasts by major financial institutions point to a continuation of the upward trend. Goldman Sachs and J.P. Morgan estimate that the price could exceed $4,000 per ounce by 2026, especially if a global recession is confirmed and geopolitical tensions continue.

For small investors, this raises the question: should they diversify with gold? The current options—from buying bullion and coins to fractional investment systems—make it more accessible than ever.

Over the past twenty years, gold has proven to be much more than just a shiny metal: it is insurance against uncertainty. In a world marked by inflation, trade wars and crises of confidence in currencies, gold continues to consolidate its position as the safe haven par excellence.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.