Gold and Crypto Surge as Investors Hedge Against Fiscal Uncertainty

Gold prices vaulted to another record high Wednesday, extending a historic rally fueled by what Wall Street strategists dub the 'debasement trade.' The MOVE reflects growing institutional appetite for hard assets—including cryptocurrencies—as hedges against ballooning government debt and dollar weakness.

The precious metal's 2025 surge defies conventional wisdom, climbing alongside risk assets rather than serving as a SAFE haven. 'You've got two competing narratives,' said Vanguard's Joe Davis. 'Equities pricing an AI revolution, while gold investors position for structural fiscal risks.'

Bullion's ascent comes despite recent dollar stabilization, suggesting deeper macroeconomic concerns are driving flows. Lower interest rates further bolster the case for non-yielding assets like Gold and select cryptocurrencies.