Gold has surged 42.8% in the past year, climbing to a record $3,650 per ounce and briefly crossing $4,000 in some markets. The rally marks one of the metal’s strongest performances in a decade.

Analysts attribute the surge to a weaker U.S. dollar, persistent inflation, and expectations of Federal Reserve rate cuts, which have boosted demand for safe-haven assets. Rising geopolitical tensions and strong central bank buying have further strengthened gold’s appeal.

Investors are also pouring money into gold-backed ETFs, adding more momentum to the market. Experts say that while short-term corrections are possible, gold’s long-term outlook remains strong amid continued global uncertainty.