The recent surge in gold prices is due primarily to the U.S. Federal Reserve's decision to cut interest rates, leading many investors to flock to the asset.
Retail investors are becoming increasingly active in gold purchases, with Costco reporting that 77 percent of its outlets selling bullion bars sold out within just a week.
The combination of a weakening U.S. dollar, inflation concerns, and active central bank buying indicates potential for further increases in gold prices.
Wall Street analysts have noted that gold's demand is now exceeding its five-year average, indicating a strong, sustained interest in the precious metal.
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