Gold Hits $4,000 as Dollar Slides, Ken Griffin Raises Concerns

Ken Griffin, CEO of Citadel, has voiced concerns over gold’s surge and its implications for the U.S. dollar’s role as a global safe haven, Bloomberg reports. Gold futures recently climbed above $4,000 an ounce, up more than 50% so far in 2025.

The U.S. dollar has weakened alongside gold’s rise. The U.S. Dollar Index (DXY), which tracks the greenback against major currencies such as the euro, yen, and pound, has fallen roughly 10% this year, currently trading 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 amid a boom in artificial intelligence and high-performance computing.

Investors are increasingly turning to hard assets like gold, silver, and bitcoin to hedge against monetary debasement—a phenomenon where excessive money creation erodes a currency’s purchasing power.

The U.S. economic environment remains uncertain. The government is partially shut down, and markets are pricing in a 92% chance of a 25 basis point Fed rate cut at the October 29 meeting, which would bring rates to 3.75%–4.00%. Additional cuts could lower rates to 3.50%–3.75% by year-end.

Amid these developments, bitcoin has also seen strong gains, rising 9% in October and reaching a new all-time high of $126,000 on Monday.