Ken Griffin, CEO of Citadel, has voiced concerns over the soaring price of gold and the implications for the U.S. dollar’s role as a global safe haven, according to Bloomberg. Gold futures recently surpassed $4,000 an ounce, climbing more than 50% in 2025.
The dollar has softened alongside gold’s rally. The U.S. Dollar Index (DXY), which tracks the greenback against major currencies including the euro, yen, and pound, has dropped roughly 10% this year and currently trades near 98.5.
Griffin told Bloomberg, “We’re seeing substantial asset inflation away from the dollar as people are looking for ways to effectively de-dollarize, or de-risk their portfolios vis-à-vis U.S. sovereign risk.” He added, “We’re definitely on a bit of a sugar high in the U.S. economy right now,” pointing to record equity levels driven by artificial intelligence and high-performance computing sectors.
Investors are increasingly turning to hard assets like gold, silver, and bitcoin to hedge against monetary debasement—a phenomenon where excessive money creation diminishes a currency’s purchasing power.
Economic uncertainty persists in the U.S., with a partial government shutdown ongoing and markets pricing in potential rate cuts. According to the CME FedWatch Tool, there is a 92% probability of a 25-basis-point cut at the Federal Reserve’s October 29 meeting, lowering the federal funds rate to 3.75%–4.00%, with additional reductions expected by year-end to 3.50%–3.75%.
Bitcoin has also surged amid these dynamics, rising 9% in October and hitting a new all-time high of $126,000 on Monday.
