The global financial landscape has witnessed a notable shift in sentiment, with investors seeking refuge in traditional safe-haven assets such as the Swiss franc and gold. As stock and bond markets continue to experience turmoil, these assets have surged in value while Bitcoin’s price performance has lagged behind. 2024’s volatility is driven by escalating trade tensions between the US and China, prompting investors to look for stability through historically safe-haven currencies. The Swiss franc has outperformed other currencies this year, reaching record highs as its strength reflects Switzerland’s neutral geopolitical position and robust banking secrecy laws. The Swiss National Bank (SNB), a major player in the US financial market, contributes significantly to this performance by holding substantial positions in American companies like Apple, Microsoft, Amazon, and Alphabet, alongside being the tenth-largest holder of U.S. Treasury bonds. Gold prices have also soared, reaching a record high of $3,240 per ounce. This surge is largely attributed to its historical role as an asset during times of uncertainty and economic turbulence. Notably, Gold’s performance has surpassed Bitcoin in terms of investor appeal during this period of market volatility. 2023 saw the S&P 500 and Nasdaq 100 indices retreat by double digits, reflecting a significant shift from the previous year’s optimistic trends. Global recession risks have also heightened this week, with analysts predicting the likelihood of a downturn in the US economy as a result of escalating trade wars between the US and China. These forecasts are supported by various economic indicators including BlackRock’s Larry Fink who asserts that the US is already in a recession, along with Moody’s chief economist Mark Zandi’s projection of a 60% chance of a recession this year based on the impact of US-China trade tensions. Economic experts at companies like Morgan Stanley, BNP Paribas, and UBS have also warned of a potential decline in US GDP and an expected rise in unemployment to 5%.