Gold futures prices declined, but remained near historic highs, driven by safe-haven demand and a weak dollar. SP Angel analysts said in a report that the surge in ETF capital inflows, the weakening dollar, and investors' shift to safe-haven assets amid market turmoil have supported the price of gold. SP Angel said that the sharp sell-off in US long-term treasury bonds could also trigger more gold purchases. SP Angel wrote that gold and US Treasury bonds usually compete for safe-haven status. Given concerns about the US economy, investors may cut their positions on US Treasury bonds and buy gold instead.

Gold futures prices declined, but remained near historic highs, driven by safe-haven demand and a weak dollar. SP Angel analysts said in a report that the surge in ETF capital inflows, the weakening dollar, and investors' shift to safe-haven assets amid market turmoil have supported the price of gold. SP Angel said that the sharp sell-off in US long-term treasury bonds could also trigger more gold purchases. SP Angel wrote that gold and US Treasury bonds usually compete for safe-haven status. Given concerns about the US economy, investors may cut their positions on US Treasury bonds and buy gold instead.