Gold has been on a tear lately, notching several record highs, most recently nearing the $4,000 mark, as investors and central banks seek a safe haven amid a business climate full of uncertainty.
As Fortune has reported, Goldman Sachs is still bullish, calling for gold to hit $4,300 an ounce by late 2026, while Mark Haefele of UBS agrees that gold will remain an essential hedge. Deutsche Bank thinks that the gold rally shows that, deep down, investors are scared.
