AXIOS (Madison Mills) - The gold rally is the new bet against Trump
Investors around the world are losing faith in traditional safe-haven assets like the U.S. dollar and Treasuries, fueling a fierce rally in gold. Why it matters: Gold prices have rallied over 17% so far this year as investors hedge exposure to Washington. What they're saying: "Investment dollars flowing into gold are largely a function of the risk associated with unpredictable policy in the American political authority," Joe Brusuelas, chief economist at RSM U.S., tells Axios. - Gold is acting as insurance against "policy fragmentation," says Paul Karger, CEO of TwinFocus, a wealth advisory firm. Zoom in: Global investors are "calling bunk on currencies," Karger adds. - Central banks globally are still buying U.S. Treasuries, which…
AI:Gold prices have rallied over 17% this year as global investors turn to the metal as a hedge against unpredictable U.S. policy and geopolitical risks. This shift is part of a broader trend where central banks are diversifying away from traditional safe-haven assets like the U.S. dollar and Treasuries, with gold holdings recently surpassing U.S. Treasury ownership among central banks for the first time in 30 years. Other factors driving demand include the booming data center industry and increasing global instability.Open