Investors are increasingly opting for gold as a safeguard against inflation and rising populism ahead of the upcoming US election, according to strategists at Bank of America Corp.
The precious metal recently reached a record high, reflecting increased demand among market participants. Gold funds saw their largest weekly inflow since July 2020, indicating a significant shift in investment strategies as uncertainty looms.
This trend underscores a growing confidence in gold as a safe haven amidst economic volatility and political tensions.