Gold prices continue to reach historic highs as safe-haven funds flow in to resist uncertainty.

Jin10 Data reported on October 7, Monday, that gold prices soared to a historic high of $3970 per ounce, with a cumulative rise of over 50% this year, continuing last year's 27% increase. Market expectations for the Fed to continue dropping interest rates, combined with investors' demand to avoid economic and political risks, have jointly driven safe-haven funds to continuously flow into the precious metals market. “From the shift in Fed policy to the evolution of the global political landscape, investors are responding to risks from multiple angles, and gold continues to play its traditional store of value role in this process,” noted Joseph Cavatoni, senior market strategist at the World Gold Council. After the Fed initiated its first interest rate cut in September this year, the market has priced in two more cuts this year. The low interest rate environment has both reduced the opportunity cost of holding non-yielding assets like gold and weakened the dollar exchange rate.