Gold Craze Overheats, Downside Corrections Ahead?

Key Summary:
- Central banks & ETF are major buyers this year
- Indonesia's consumer gold demand increased +4%
- Overbought positioning could lead to profit-taking
Gold has performed exceptionally well in 2025. The yellow precious metal has outpaced many asset classes globally, surging around +60% this year to surpass the $4,000 mark for the first time in history.
So far, the 8th consecutive quarterly gain in gold prices marks the third-longest winning streak on record, trailing only the 12-quarter and 9-quarter rallies in 2009–2011 and 2019–2020, respectively.