Gold is seen as a refuge in uncertain times and a barometer of market anxiety, according to CNN.
Gold’s distinctive characteristics set it apart from other investments. The metal’s limited supply and indestructible nature have contributed to its stability, and it cannot be printed like currency. In short, gold serves as a hedge against currency devaluation or inflation and economic instability.
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Gold surged past $5,000 per ounce in January and later reached $5,500 per ounce.
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The jump was driven by a series of moves made by President Donald Trump, from tariff threats against other countries to talk of taking over Greenland and military operations in Venezuela.
Gold is universally recognized as valuable, regardless of political or economic conditions, and its value tends to rise when confidence in other financial assets declines.