A gold rush is underway as countries worldwide hoard bullion in anticipation of a global financial system collapse. The trend, which began a decade ago, has been fueled by rising interest rates and world events such as war, ideology, and protectionism.
Developing countries are at the forefront of this trend, seeking to prepare for an alternative financial order that may replace the current US-Europe dominated system. With prices now over $2,800 per ounce, gold has risen 35 percent this year alone – more than double the 20 percent rise in US stocks and European indices.
Analysts predict that prices could reach $3,000 by next year, driven by short-term factors such as low interest rates and growing uncertainty. This surge marks a significant shift in the global economy, with far-reaching implications for investors and nations worldwide.
Source: https://www.politico.eu/article/sign-impending-war-tense-world-bet-gold-bank