Gold has seen a significant price surge, driven by factors such as global geopolitical and economic uncertainties, including the Russia-Ukraine conflict and the Israel-Palestine conflict. China’s influence has played a crucial role in this sustained rise, with Chinese consumers and the central bank increasing their demand and reserves of gold. The demand for gold in China has been driven by waning confidence in traditional investments like real estate and stocks, leading to a rise in gold purchases by Chinese households. Additionally, China’s central bank has been steadily increasing its gold reserves while reducing its holdings of US debt.