Bullion bonanza: why is gold hitting record highs?

In a world increasingly dictated by turbulent markets and economic meltdowns, investors are flocking to the age-old safe haven: gold. The noble metal has seen a phenomenal surge, smashing records and reaching unprecedented highs.

A perfect storm of events such as geopolitical uncertainty, the ongoing pandemic, and wavering faith in traditional fiat currencies, has pushed gold into the spotlight. Low interest rates worldwide and quantitative easing measures have compelled investors to seek refuge in the golden fortress.

Governments around the globe, dealing with the financial fallout of the pandemic, have been pumping money into their economies. This, in turn, raises concerns over inflation and the devaluation of traditional currencies, fueling the soaring interest and trust in gold.

Investors are continually recognizing gold’s intrinsic value. As stocks and bonds become increasingly volatile, due to the unpredictability of the current world situation, they are turning to the tangible and time-tested stability offered by gold, hence the bullion bonanza.

Gold also benefits from its universal convertibility and lack of counterparty risk, making it a sought after asset in these precarious times. So, the question isn’t really why gold is hitting record highs, rather why wouldn’t it? Read More