Ole Hansen, head of commodity strategy at Saxo Bank, wrote that the simultaneous rise in gold, silver, and platinum is not only related to inflation hedging or interest rate expectations, but also reflects a deeper trend shift. Hansen wrote, “The strong increase indicates that the precious metals sector is experiencing a broader rotation trend, and capital is shifting to 'means of storing physical value'.” According to Hansen, this crisis of trust is driving institutional investors and sovereign investors to seek safe havens outside the traditional financial system. This shift has also spawned an unprecedented boom in gold purchases by central banks around the world — showing that the desire for real, unburdened assets is structural rather than speculative. “The result is that the market is no longer dominated by short-term speculative capital in response to fluctuations in real interest rates, but by a continuing structural demand for safe-haven assets,” Hansen wrote.

Ole Hansen, head of commodity strategy at Saxo Bank, wrote that the simultaneous rise in gold, silver, and platinum is not only related to inflation hedging or interest rate expectations, but also reflects a deeper trend shift. Hansen wrote, “The strong increase indicates that the precious metals sector is experiencing a broader rotation trend, and capital is shifting to 'means of storing physical value'.” According to Hansen, this crisis of trust is driving institutional investors and sovereign investors to seek safe havens outside the traditional financial system. This shift has also spawned an unprecedented boom in gold purchases by central banks around the world — showing that the desire for real, unburdened assets is structural rather than speculative. “The result is that the market is no longer dominated by short-term speculative capital in response to fluctuations in real interest rates, but by a continuing structural demand for safe-haven assets,” Hansen wrote.