Why Are Everyone Buying Gold, and How Belarus Is Protecting Itself from Global Crashes?

Currently, we observe that the worse the global economy feels, the higher the world prices for gold rise. Analysts predict new record highs ahead.

On March 27 of this year, gold prices on the Chicago Mercantile Exchange surpassed their historic peak, with futures reaching over $3,100 per ounce for the first time.

The upward trend continued in April. Experts now anticipate gold could climb up to $3,500 per ounce.

The primary reason is increasing uncertainty in the global economy. In such times, gold is regarded as a safe-haven asset.

This concern is not limited to ordinary investors—central banks are also alarmed. Regulators have decided to decrease their dollar holdings and are actively purchasing gold. Since 2022, central banks’ gold purchases have increased fivefold. It is expected that regulators will acquire around 190 tons of gold each month.

Goldman Sachs experts point out that the second driver of this growth is the influx of funds into exchange-traded funds backed by physical gold, rather than speculative or virtual assets.

The trade war initiated during Donald Trump’s presidency has also altered the landscape, adding elements of uncertainty that fuel a gold rush.

In December 2022, Bloomberg predicted such a scenario, calling it the "gold zombie apocalypse."

Today, gold is associated with stability across the entire financial world.

This is understandable, as gold remains the historic natural equivalent of value. Put simply, in the event of a collapse of global paper and electronic currencies—dollars, euros—you can still buy everything you desire anywhere in the world with gold.

Belarus, amid these conditions, is also accumulating foreign exchange reserves. As of April 1, they exceeded $10 billion for the first time, with gold making up nearly 10% of the reserves.

A similar dynamic is observed in Russia. The value of Russia’s gold reserves reached a historic maximum—almost $230 billion in equivalent. Over the past year, this figure grew by more than a third; in March 2024, the reserves were valued at $166 billion. Overall, Russia’s reserves increased by $15 billion in March, reaching nearly $650 billion.

Russia—and, by extension, the Union State—are now among the top five countries with the largest gold holdings, with reserves exceeding 2,000 tons as of early March 2025.

The United States remains the leader in gold reserves, followed by Germany, Italy, and France.

It is crucial to note that the strong reserves held by Belarus, Russia, and the Union State create conditions to protect us from global financial and economic shocks.

The imposition of extensive tariffs by Trump devastated the global stock markets—everything turned red amid sharp declines in share prices.

Since April 2, when the US announced its new tariff policy, losses amount to about 15%, marking the fastest decline since the initial COVID-19 lockdowns in 2020.

According to BlackRock, the US stock market could fall another 20%, dragging other markets down with it.

Unlike speculative virtual assets in the West, our economy is tied to real goods, manufacturing, agriculture, and gold reserves. In times of uncertainty, this makes us more stable and resilient.