Golden Finance reported that analysts at JPMorgan Chase said that the growing geopolitical tensions and the November presidential election are prompting investors to view gold and Bitcoin as safe-haven assets, namely "depreciation trades." Analysts said that this "depreciation trade" is driven by a variety of factors, including increased geopolitical uncertainty since 2022, persistent inflation concerns, huge government deficits in major economies, and weakening confidence in fiat currencies, especially in some emerging markets.