A dazzling new gold rush is under way. Why?

The Economist

Over the past year investors have piled into the metal, driving its price up by 38% to over $2,700 per troy ounce—a record high (see chart 1). The buzz has reached unusual places: gold bars have hit the shelves of Costco, an American retailer, and CU, a South Korean convenience-store chain, as the resurgence of inflation and fears of war drive consumer enthusiasm. Central bankers are also getting involved, as financial fragmentation increases appetite for an ancient asset. The world has entered a new golden age.