As gold heads toward its worst annual loss in more than a decade, investors are gauging the odds a political shift in the US will restore the precious metal’s haven allure.
Usually, bullion is a safe place to hide during periods of persistent global friction, but after starting the year with a momentum-fueled ride to a record of over $5,500 an ounce, gold now trades below $4,000. The artificial intelligence investment boom, soaring bond yields and interest rate-hike expectations have pummeled the yellow metal, sending it down more than 8% so far in 2026.
