2025 was a watershed year for gold, which set new highs as its safe-haven appeal increased.
As global uncertainty intensified, the metal began to receive mainstream attention as a standout asset.
With the year set to mark one of gold’s strongest annual performances in decades, it’s a fitting moment to look back and revisit our most popular gold news stories of 2025.
Read on to see what caught our audience’s attention over the last 12 months.
1. Germany, Italy Face Pressure to Repatriate US$245 Billion in Gold as Trust in US Custody Wavers
Publish date: June 24, 2025
In June, growing distrust in US custodianship of foreign gold reserves and political uncertainty linked to the Trump administration put pressure on Germany and Italy to repatriate their foreign bullion.
At the time, both countries collectively held more than US$245 billion in gold reserves at the Federal Reserve Bank of New York, and local political leaders were raising concerns that the US had become a less neutral custodian.
German taxpayer advocates warned that increasing political influence over the US Federal Reserve could jeopardize access to foreign-owned bullion. Similar concerns surfaced in Italy, where critics argued that continuing to store gold abroad posed a strategic risk during a period of heightened geopolitical tension.
Germany repatriated 674 metric tons of gold from 2013 to 2017, but 37 percent of its reserves remain in New York.
2. What Does the GDX Index Change Mean for Gold Investors?
Publish date: September 19, 2025
In September, the world’s largest gold-mining stock exchange-traded fund (ETF) — the US$20.5 billion VanEck Gold Miners ETF (ARCA:GDX) — underwent a major structural overhaul.
VanEck transitioned GDX from the NYSE Arca Gold Miners Index to the MarketVector Global Gold Miners Index, ending a benchmark relationship in place since 2004.
The switch adopted free-float market-cap rules that exclude locked-up or government-held shares, aligning the fund with index standards commonly used in broader equity markets.
3. Barrick’s Bristow Steps Down Following Hemlo Sale and Mali Challenges
Publish date: September 29, 2025
Barrick Mining (TSX:ABX,NYSE:B) went through a major leadership transition this year after CEO Mark Bristow unexpectedly left the company following nearly seven years at the helm.
Bristow, who had led the company since the 2019 merger with Randgold Resources, stepped down amid strategic disagreements with Barrick Chair John Thornton and a year marked by operational challenges, including ongoing legal and political challenges in Mali, where its Loulo-Gounkoto complex is located.
Bristow’s departure also came shortly after Barrick finalized a US$1.09 billion sale of its Hemlo mine in Ontario, formally marking its exit from primary Canadian gold production to concentrate on higher-margin international operations.
Chief Operating Officer Mark Hill assumed interim CEO responsibilities as the board initiated a global search for a successor. Hill previously oversaw Barrick’s Latin America and Asia-Pacific operations, and played a key role in the company’s initial decision to explore the Fourmile gold project in Nevada.
4. Mali Enforces Gold Seizure at Barrick’s Loulo-Gounkoto Mine
Publish date: January 13, 2025
Barrick’s tensions with Mali’s military government intensified at the start of 2025 after authorities seized gold shipments from the firm’s Loulo-Gounkoto mine, which accounts for roughly 14 percent of its annual production.
At the time, officials claimed Barrick owed more than US$500 million in unpaid taxes and state dividends under a revised mining code implemented in 2023. Detentions and legal threats against local staff heightened the conflict further, and the government reportedly intercepted approximately 3 metric tons of bullion.
The year-long dispute reached a conclusion on November 24, when Barrick confirmed a settlement with the Malian government that restores full control over the Loulo-Gounkoto mine.
Under the terms, the company was to pay 244 billion CFA francs (US$430 million), with 144 billion CFA francs due within six days of signing and an additional 50 billion CFA francs applied through VAT credit offsets.
In exchange, Mali was to drop all charges against Barrick, lift state control of Loulo-Gounkoto, release four detained employees and renew the company’s mining permit for another decade.
The agreement also requires Barrick to comply with Mali’s 2023 mining code — the same legislation that triggered the original confrontation.
5. Navigating Uncertainty: How Trump’s Tariffs Are Affecting the Gold Market
Publish date: August 27, 2025
US trade policy sparked gold market turbulence after confusion surrounding import tariffs, including whether Swiss-refined 1 kilogram and 100 ounce bars would be subject to rates near 39 percent. Traders rushed to secure physical imports amid the uncertainty, widening spreads between New York futures and London spot benchmarks.
The volatility eased only after US officials clarified their position.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
