The speed of the upswing has been much faster than analysts had predicted and brings the total gains to nearly 100% since the current run started in early 2024.

The soaring price of gold has captured investors’ hearts and wallets and resulted in long lines of people forming outside gold dealers in Sydney to get their hands on the precious metal.

What explains the soaring price of gold?

A number of reasons have been suggested to explain the current record run for gold. These include greater economic uncertainties from ballooning government debt levels and the current US government shutdown.

There are also growing worries about the independence of the US Federal Reserve. If political interference pushes down US interest rates, that could see a resurgence in inflation. Gold is traditional

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