The Globe and Mail reports in its Wednesday, Dec. 6, edition that analysts say the momentum propelling gold to a record $2,135.40 per ounce on Monday may fizzle short term, owing to uncertainty over the timing of U.S. monetary easing, but wider geopolitical risks should also drive further gains. A Reuters dispatch to The Globe reports that safe-haven inflows driven by war in Ukraine and the Middle East, coupled with bets for a cut in U.S. interest rates -- making zero-yield gold more attractive than competing assets such as bonds and the U.S. dollar -- have driven a more than 10-per-cent rise in bullion prices. Gold vaulted on a more dovish tilt by the Federal Reserve, but has since given up some of those gains. MKS analyst Nicky Shiels says, "Bullish expectations have been brought forward into the first quarter of 2024 but it is not going to be a straight line to revisit the all-time peak again." Steady central bank purchases led by China have also supported gold this year and this should continue next year, analysts note. Holdings in the largest gold-backed exchange traded fund, the SPDR Gold Shares ETF, posted net inflows of over $1-billion in November, the most since March, 2022.