Overview
Gold advanced to a record high this week, extending a powerful rally driven by expectations of interest-rate cuts, a softer US dollar and sustained central-bank buying.
The move underscores gold's enduring role as a store of value during periods of monetary and geopolitical uncertainty.
What's driving the rally
Lower real yields reduce the opportunity cost of holding non-yielding assets like gold, making bullion more attractive to investors.
Meanwhile, central banks have continued to diversify reserves into gold, adding a structural layer of demand beneath the market.
The outlook
Analysts note that momentum remains constructive, though sharp rallies can invite short-term profit-taking.
For long-term holders, the fundamental backdrop of easing policy and steady official-sector demand remains supportive.