The safe-haven rush is intensifying! Gold has surged to a historic high of $2,758.49, fueled by growing fears surrounding the US presidential race and escalating tensions in the Middle East.  With geopolitical risks mounting, investors are seeking refuge in gold, propelling it beyond previous records. Silver is also nearing $35 an ounce—its highest level since 2012—highlighting the flight to precious metals amid global uncertainty.

Despite a bond market selloff and high yields typically weighing on non-yielding assets like gold, the metal continues to defy expectations. Hedge funds have been increasing their net-long positions, while exchange-traded funds (ETFs) see growing inflows. Analysts predict even more upside, with some forecasting gold to average $2,800 in Q4 and hit $2,900 by early 2025.