According to Jinshi, the chief investment officers of Schroder Investment Management and UBS Global Wealth Management said that gold has become the preferred trade to resist volatility. Johanna Kyrklund, group chief investment officer of Schroder, said, "I prefer gold to U.S. Treasuries." Gold prices have climbed to record highs this year, affected by the Federal Reserve's expectations of rate cuts, central banks' purchases of gold, and safe-haven demand amid geopolitical tensions. However, there is uncertainty about the timing of rate cuts, which has led to fluctuations in U.S. Treasuries, and a U.S. bond index has fallen after rising last year.
