Gold prices hit fresh high as analysts predict it could be best

Gold futures on Tuesday surged to a fresh high of over $3,800 as investors continue to bet big on the safe haven asset.

The real gold price, which adjusts for inflation , hit a record high earlier this month for the first time since 1980.

In a note on Monday, Deutsche Bank analysts forecast that gold prices could rise above $4,000 by the end of the year – notching a massive full-year return of more than 50%.

The real gold price, which adjusts for inflation, hit a record high earlier this month for the first time since 1980. REUTERS

That would cement gold as the best-performing asset of the year.

Investors often buy gold as a hedge against inflation and economic uncertainty because of its ability to hold its value, even as other assets fall.

Yet major stock indexes have also notche