Gold hit a new record high—and that’s an indicator of fear lurking behind the stock market’s latest record high, Deutsche Bank says

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• The price of gold hit a new record high—something that normally happens when investors are fearful and seeking a safe haven. But the stock markets also hit a new record high—normally a signal of optimism. The reason? Investors are both bullish and afraid, according to Deutsche Bank. 

The price of gold hit another record high today, which Deutsche Bank noted is incongruous with the optimistic tone of markets more widely. Gold does, after all, usually act as a safe haven in periods of economic unease.