Gold prices have rallied sharply since the Hamas-Israel conflict broke out, further highlighting the divergence in its long-term relationship with US Treasuries as investors flee to the haven asset.
Prices of the precious metal have surged as much as 10 per cent to $1,996 per troy ounce, hitting a five-month high, after Hamas launched attacks on Israel a fortnight ago.
With the region at risk of tipping into wider conflict, investors have bought gold, which is regarded as a store of value during times of geopolitical and market uncertainty.
Read the full story on the Financial Times here.