Gold Surges to Record High as Investors Seek Safe Haven

Spot gold prices surged above $2910 per ounce on Monday, marking a new all-time high and extending its winning streak. The precious metal gained $7 in a short-term uptrend, posting a 1.72% intraday gain.

The rally in gold prices comes amid ongoing geopolitical tensions and global economic uncertainty. Investors have been seeking safe-haven assets, driving up demand for gold. Additionally, a weaker U.S. dollar has made gold more affordable for buyers using other currencies, further boosting demand.

Gold's all-time high is a significant milestone, reflecting investors' growing confidence in the metal's ability to hedge against inflation and market volatility. As the global economy continues to face challenges, gold is expected to remain a popular choice among investors seeking to diversify their portfolios.

However, some analysts caution that gold's rally may not be sustainable in the long term. They argue that the metal's price is being driven by speculative demand, which could reverse if market conditions change. Nevertheless, gold's recent performance has been impressive, and it remains a popular choice among investors seeking to protect their wealth in uncertain times.