Gold Prices Surge as Central Banks and Investors Stock Up

Gold prices are surging, but the reasons are unclear since inflation is not currently rampant and the Ukraine war is at a stalemate.

Central banks, especially China's, are buying large amounts of gold to diversify reserves away from dollars after Russia's reserves were frozen.

Institutions may be making speculative gold bets or hedges in case inflation returns or as protection from future crises.

Private individuals seem to be buying physical gold, with Costco selling out gold bars almost immediately after restocking them.

If inflation keeps creeping up and shoppers worry about costs, more personal gold purchases could happen.