Gold futures extended their impressive run, rising for an eighth straight week. Over this streak, the metal has set new all-time highs in four consecutive weeks, reaching price levels not previously recorded.
Analyst Bob Iaccino attributes the rally primarily to two factors. First, a softer U.S. dollar has made gold more attractive to global buyers, since gold is typically priced in dollars and becomes cheaper for holders of other currencies when the dollar weakens. Second, heightened demand for safe-haven assets has pushed investors toward gold as a way to protect wealth amid market uncertainty. Together, these dynamics have produced gold’s strongest stretch of performance since August 2020, underscoring growing investor interest in the metal as a reliable store of value.