Gold Prices Surge Amid Global Economic Uncertainty Gold prices have soared to near-record highs, approaching $3,300 per ounce, driven by heightened demand for safe-haven assets. Recent market data indicates a 5% increase since mid-May, fueled by geopolitical tensions and economic instability. China, a major gold consumer, imported its highest volume in nearly a year last month despite elevated prices, signaling strong global appetite. The European Central Bank has raised concerns about potential disruptions in the physical gold market, warning that geopolitical stress could lead to a demand surge for physical settlement, posing risks to financial stability in the Eurozone. Analysts suggest gold’s rally reflects growing investor confidence in hard assets as a hedge against market volatility.