Gold Prices Surge to New Highs Driven by Rate Cuts, Global Tensions
• Gold's rally has caught analysts by surprise as drivers like rate cuts, yields, ETFs don't fully explain it • Chinese and Indian demand has eased back somewhat but is still supporting prices • Central bank buying continues strongly and may be driving gold as a safe haven from global risks • Speculative trading and momentum buying have contributed, though investor positioning isn't extremely bullish • Combination of rate cut bets and geopolitical turmoil are likely fueling gold's rise to new highs