Article last updated 22 July 2025.
Gold prices have surged this year as yields on other safe havens have dropped sharply, making gold a more attractive hedge against economic and geopolitical uncertainty. We believe gold does have good diversification benefits, particularly in the current environment of ultra-low bond yields, but after such a steep rise there may be limited upside from here. Read more about our views on the global economy in our latest Investment Insights.
