March 2025 in review: gold rush, resource war, and a resounding success at the Deutsches Technikmuseum
On March 11, 2025, the time had come: gold broke the $3,000 mark—a psychologically significant milestone. While former President Trump expressed doubts about the US gold reserves in Fort Knox, many in the industry have long been asking a different question: Are we heading towards two gold markets? One for conflict-free gold—and one for the rest?
The demand for ethically clean gold is growing rapidly. With Finomet, our digital trust platform, we are working to transparently map not only the use of funds but also supply chains in the future.
Raw materials policy: While Trump applies pressure, Europe remains hesitant
March was also politically charged. In the United States, Trump negotiated with Putin on joint resource extraction on Ukrainian soil—an unprecedented diplomatic breach. The EU, by contrast, remains in the shadows when it comes to securing raw materials. China still accounts for over 90% of production of key raw materials such as gallium and dysprosium oxide, making Europe’s dependence starkly visible.
Germanium is becoming scarce—and policymakers are looking on
This is particularly evident in the case of germanium: the export controls in place since 2023 are having an effect, and the material is becoming scarce. Developing new sources outside China should be the highest priority—not only for us traders, but for any future-proof industrial policy.
Book premiere: “The Cocaine of Industry” strikes a chord
A bright spot: The book premiere of “The Cocaine of Industry” at the Deutsches Technikmuseum was a resounding success. In front of an audience of investors, analysts, and journalists, one thing became clear: technology metals and rare earths are the geopolitical lever of the future. The book is now available in stores.
€150 billion for defence—but no raw materials strategy?
At the end of the month, Friedrich Merz surprised many by breaking an election promise: despite the debt brake, the future chancellor wants to mobilise a €150 billion special fund. But money alone is not enough. Defence needs commodities. And commodities need functioning supply chains.
April outlook: Taiwan under pressure, Ukraine under scrutiny
Expert opinion from commodities specialist Andreas Kroll:
“The geopolitical situation continues to intensify—especially around Taiwan and Ukraine. The United States is officially backing Taiwan, but China remains unimpressed. The military drills off the island are a clear signal: Taiwan’s future remains uncertain.”
At the same time, the US administration’s approach to Ukraine shows that strategic interests often matter more than alliance loyalty. If Washington is seriously negotiating with Russia over joint resource extraction on Ukrainian soil, then one thing is clear: there is hardly any reliability left in foreign-policy constants.
Europe must act now—geopolitically and economically. And that also means becoming more independent in the supply of critical commodities. Germanium is only the first warning sign. Those who can still deliver today may soon no longer be able to.”