In addition, the failure of inflation to ease and recent geopolitical risks have also driven the demand for gold as a safe haven. The ongoing Russia-Ukraine war, which has been ongoing for two years without an end in sight, as well as the potential escalation of conflicts in the Nagorno-Karabakh war, have contributed to this. Furthermore, according to sources cited by The Wall Street Journal, Iran is expected to launch a direct attack on Israeli territory within 48 hours. As a result, the VIX panic index has surged to its highest level since 2024, and gold reached a new all-time high yesterday.
What are the factors behind the surge in gold prices as Bitcoin faces increased risk of correction?