Gold Surges to Record $2,600 on Safe Haven Demand
Precious metal extends rally as geopolitical tensions and central bank purchases drive prices to unprecedented levels.
Gold prices have surged to a new all-time high of $2,600 per ounce as investors seek safe-haven assets amid escalating geopolitical tensions and concerns about the global economic outlook.
Central bank purchases have been a major driver, with China, India, and several emerging market central banks significantly increasing their gold reserves over the past year.
"Gold is reasserting its role as the ultimate store of value," said a precious metals strategist. "We're seeing a structural shift in central bank reserve management away from dollars."
Silver has followed gold higher, reaching its highest level since 2012. Mining stocks have outperformed the broader market significantly.
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