The Globe and Mail reports in its Tuesday, July 29, edition that global trade and fiscal debt concerns are driving investors toward safer assets, enhancing gold's appeal as a risk haven. A Reuters dispatch to The Globe reports that its poll of 40 analysts increased its gold price forecast for this year to a median of $3,220 per troy ounce, up from $3,065 three months ago, with the 2026 estimate rising to $3,400 (all figures U.S.). Spot gold prices have surged 27 per cent this year, reaching a record $3,500 in April amid a U.S.-China trade war, leading to increased investment in safe-haven assets. "The first half of 2025 confirmed what many of us have long believed. Gold is not just a hedge. It is a signal," said David Russell at GoldCore, calling $4,000 a realistic target by the end of 2026 should worries about the U.S. fiscal situation deepen further. Uncertainty over trade deadlines with key U.S. partners has increased the appeal of safe-haven gold, while concerns about fiscal issues have grown following the passage of President Donald Trump's "One Big Beautiful Bill," which non-partisan analysts expect to add $3.3-trillion to the country's national debt.