Unshackling from Tradition: Gold Prices Soar Amid Global Uncertainty and Concerns for Monetary System

Macroscope | The enduring trust in gold among investors during these challenging periods

The divergence of gold's value from its usual determinants signifies profound global ambiguity and apprehension regarding the international financial system.

The cost of the valuable mineral has seen a significant increase, so much so that the worth of one ounce has surpassed a historic high of US$2,500 on certain days in the past few weeks. Concurrently, a 400-ounce gold bar's price has hit the US$1 million mark for the first time ever.

The observation that the price of gold seems to have detached from its usual standards or reference points not only indicates profound doubt from central banks and investors regarding the world's status, but also highlights increasing worries about the health of the global financial system.