Spot gold touches $4,300, up 0.65% on the day

Gold's push into fresh record territory says less about any single catalyst than about the persistence of the backdrop: macro and geopolitical risk that buyers keep pricing in. That matters for the broader hard-asset complex, where gold's bid often sets the tone for how adjacent stores of value are treated. The open question is whether this strength holds once the immediate risk headlines fade, or whether it reflects a more durable shift in allocation.