Gold climbs over $4,000; silver, bitcoin surge as 'debasement trade' flight to havens continues

Group 1: Market Trends - Gold futures reached a new record of over $4,060 per troy ounce, while silver futures climbed to $48.70, marking its strongest level in decades [1][6] - Bitcoin is trading near $123,000, just below its recent record of $125,790, reflecting ongoing interest in hard assets and cryptocurrencies as hedges against fiat currency erosion [2][3] Group 2: Economic Context - The US dollar index has declined approximately 9% year to date, contributing to the rise in precious metals and cryptocurrencies [3] - Fiscal uncertainty in developed markets, particularly following Japan's recent election of Sanae Takaichi as prime minister, has led to increased demand for safe-haven assets [4][5] Group 3: Investment Insights - Gold and silver futures have surged about 55% and 65% year to date, respectively, driven by expectations of Federal Reserve rate cuts, which enhance the appeal of these metals [6] - Goldman Sachs has raised its gold price forecast for December 2026 from $4,300 to $4,900 per troy ounce, citing strong inflows into gold-backed exchange-traded funds [6][7]