Recently, the international gold market has witnessed a strong upward trend, with spot gold prices breaking through previous historical highs to reach $4,691.6 per ounce, just shy of the $4,700 mark.
Why is Gold Continuously Rising?
The rising gold prices are driven by multiple factors. Global economic uncertainty, geopolitical tensions, and inflationary pressures have made gold a favored safe-haven asset.
- Escalating geopolitical risks
- Central banks continue to increase gold reserves
- High inflation erodes fiat currency value
In addition, gold's role as a hedge in investment portfolios has become increasingly prominent, attracting more institutional and individual investors to allocate the precious metal.