Gold prices hit a record high above $3,500 an ounce as investors flock to safe-haven assets amid inflation, weakening currencies, and geopolitical risks.

The surge, nearly doubling gold’s value since early 2023, comes as central banks shift reserves from U.S. treasuries to gold.

European bond yields also spiked to multi-year highs, pressuring markets and governments, while the pound and European stocks fell, The Guardian has reported.

Analysts predict gold could reach $3,700–$4,000 if instability deepens, with silver also climbing to its highest level since 2011.