British News Agency

Analysts note that gold is generally viewed as a safe-haven asset during periods of economic or geopolitical turmoil, and therefore, as risky assets lose value, gold has risen this year, breaking consecutive price records.

Silver, another safe-haven asset that typically follows gold, also reached a record level of $68.96 per ounce, while spot silver traded at $68.98, bringing silver’s year-to-date gain to 128 percent.

Markets priced in the Fed’s expected interest rate cut on December 10, and optimism returned to AI-related stocks in the previous trading session; however, economic speculation for next year pushed global investors back into a defensive stance as they rebalanced their portfolios.

According to analysts, due to excessive fiscal deficits in the United States, the United Kingdom, Europe, and increasingly in Japan and China, gold’s monetary value has re-emerged unequivocally.

Investors will also watch the race for the nomination of the next Federal Reserve chair, as the independence and credibility of the Fed are being questioned amid repeated pressure by U.S. President Trump on current chair Jerome Powell.