Gold has substantially outperformed the S&P 500 and other major asset classes since 2000, delivering an average annual return of 10.1%, compared to the S&P 500's lower total return with higher volatility. Over the past 25 years, gold has risen 1,068%, which is twice the S&P 500's total return during the same period. Gold has also demonstrated resilience during market downturns, rising in 80% of the 20 worst months for equities since 2008, with an average return of 2.6% in those periods. The metal's role as a diversification asset is underscored by its performance relative to physical stocks and Treasury securities during market sell-offs. Concurrently, a de-dollarization trend is accelerating globally, with the US dollar's share of international reserves dropping by 10 percentage points over the last five years to its lowest level in over three decades, now at approximately 44%. In contrast, gold's share of global reserves has doubled to around 23%, the highest in 30 years. This shift is also reflected in emerging market central banks increasing their gold holdings, with China's gold reserves doubling over three years. Furthermore, gold meets Basel III standards for a High Quality Liquid Asset, exhibiting volatility comparable or superior to intermediate and long-term US Treasuries during recent market shocks. The US dollar has devalued by nearly 99% against gold since 1971, highlighting the persistent decline of fiat currencies against the precious metal.