Analyst: Gold is rising on its own momentum.

Chris Weston, head of research at Pepperstone, noted that one noteworthy aspect of the current surge in gold prices is that, while gold is rising, cryptocurrencies are struggling to gain similar upward momentum. This indicates that this wave of increase is not merely a result of broad currency devaluation trades, but is driven by more specific factors unique to the precious metals sector. It is also significant that, despite the strengthening of the dollar and a 5% rise in oil prices, gold is still appreciating. Weston stated that these traditional relationships have been temporarily disrupted, suggesting that the flow of funds into specific assets is proving to be a major driving force.