Gold has reached new historical highs, increasing over 7% and 30% year-to-date, highlighting its role as a safe-haven asset amidst economic uncertainties.
The dollar's weakness, driven by Federal Reserve rate cuts and rising geopolitical risks, has pushed investors towards gold, traditionally a valued asset in uncertain times.
Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold, renewing investor interest and solidifying gold's role in capital protection.
Despite warnings about short-term momentum factors hindering gold's performance, the World Gold Council anticipates a bullish outlook due to rising risk aversion in an uncertain economy.
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