Gold hits record highs again amid global uncertainties
Briefly

Historically, it has not paid off to be a 'goldbug', the term for someone bullish on gold. However, the yellow metal has risen roughly 30% in the last year, with many experts believing it is poised for long-term growth.
Bank of America analysts noted a global shift toward higher price levels. They believe this will lead investors to hedge against rising prices and volatility by turning to gold, an 'overlooked, unmatched portfolio hedge'.
Central banks are on pace to buy more than 3,000 tons of gold from 2022 to the end of this year, the fastest pace in history. This surge in demand reflects nations' goals to reduce dependency on the U.S. dollar.
The rush for gold has less to do with retail shopping and more about countries trying to diversify their reserves. This leads to a gradual change in the global financial system.
Read at Fortune
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