BloFin Research: Gold’s Three-Phase Demand Expansion
BeInCrypto
Gold’s recent price rally is driven by three distinct, overlapping phases of demand from sovereign, institutional, and crypto-native investors.Summary
The current gold bull market is fueled by a unique, sequential expansion of three distinct buyer categories. First, central banks established a sovereign demand floor through unprecedented multi-year accumulation. Second, Western institutional and retail investors have begun returning, though they remain significantly under-allocated compared to historical norms. Finally, the crypto-native sector is integrating gold as productive collateral through stablecoin reserves and tokenized products, introducing new utility for the asset beyond its traditional role as a passive store of value.
(Source：BeInCrypto)