Precious metals are staging a remarkable rally as investors flock to safe-haven assets amid escalating geopolitical risks. Gold has surged past $4,500 per ounce, while silver and platinum continue reaching fresh highs, driven by a perfect storm of factors. Expectations of further U.S. rate cuts are fueling demand, alongside sustained central bank purchases that continue to prop up prices. ETF inflows have accelerated, signaling growing institutional interest. The confluence of these elements suggests the rally has legs—traditional risk-off sentiment in macro markets often correlates with shifting portfolio allocations and risk reassessment strategies across asset classes.