Gold prices have soared to an all-time high, exceeding $3,899 per ounce, fueled by growing economic uncertainty in the United States. This record surge is attributed to a shift in institutional investment towards safe haven assets like gold, which is evident in the significantly increased trading volumes on major platforms and the growing popularity of gold-backed cryptocurrencies like PAXG and XAUT. While Bitcoin and Ethereum have stabilized despite volatility in traditional markets, crypto investors are seeking safety by allocating capital into gold-linked investments. This trend appears to be driven primarily by macroeconomic conditions as opposed to specific reactions to cryptocurrency dynamics.