India, May 8 -- Golds value has historically surged during geopolitical and economic upheavals, and recent events like Russias invasion of Ukraine and the conflict in Gaza have further boosted its price.

However, what sets this current surge apart is the role played by China. Chinese investors, disillusioned with real estate and stocks, have turned to gold, propelling its price to record highs surpassing $2,400 per ounce, reported the New York Times.

This trend has been reinforced by Chinas central bank, which has been steadily increasing its gold reserves while reducing its holdings of US debt.

Moreover, Chinese speculators are actively betting on further appreciation of gold.

Chinas dent in the gold market has grown substantially du...