The Globe and Mail reports in its Tuesday, Sept. 17, edition that gold prices are soaring, approaching $3,000 an ounce. A Reuters dispatch to The Globe reports that this surge is driven by monetary easing, a tight U.S. presidential election race, and safe-haven demand due to geopolitical and economic uncertainty. Spot gold hit a historic high of $2,589.59 on Monday and is on track for its strongest annual performance since 2020, with a rise of more than 24 per cent. Citi Research's Aakash Doshi says gold could reach $3,000 an ounce by mid-2025 and $2,600 by the end of 2024 driven by U.S. interest-rate cuts, strong demand from exchange traded funds and over-the-counter physical demand. The World Gold Council reported that global physically backed gold exchange traded funds had a fourth consecutive month of inflows in August. The upcoming Federal Reserve meeting has market attention due to the potential for the first U.S. interest rate cut since 2020. Investment banks and analysts have become increasingly optimistic about gold, with Wall Street bank Goldman Sachs expressing the highest confidence in the short-term potential for gold, which remains its preferred hedge against geopolitical and financial risks.