Gold Shines as Investors and Central Banks Stock Up Amid Economic Uncertainty

Investors are buying gold due to expectations of Fed interest rate cuts and as a hedge against economic uncertainty. Central banks like China's are also stockpiling gold to diversify from the US dollar.

Oil price rises are stoking inflation fears, making gold more appealing as an inflation hedge. The recent rise in prices signals uncertainty about whether the Fed can tame inflation without triggering a recession.

Costco’s booming gold and silver sales suggest smaller retail investors are jumping on the rising prices bandwagon. Social media posts also indicate growing retail hype around precious metals.

Central banks demanding more gold signals waning reliance on the US dollar amid geopolitical tensions. Nations not allied with the US may want to limit vulnerability to sanctions.

Major elections being held in over 60 countries this year underscores gold's appeal as a safe haven asset during times of political uncertainty.