New Delhi, July 3 -- In the past 6 to 12 months, gold has witnessed strong global allocations. This surge is primarily driven by rising global uncertainties, including the upcoming U.S. elections, escalating geopolitical tensions, unexpected tariff changes, and disruptions in international trade-such as recent debates surrounding rare earths and other essential commodities.

In periods marked by such macro uncertainties, global allocation often adopt a "safe haven" approach, pivoting their allocations towards assets like gold and the U.S. dollar. These assets act as stabilisers during turbulent times, said Ranju Rajan, Head of Managed Accounts, Axis Securities.

On Thursday, Gold prices edged slightly higher in the domestic futures market...