Central bank gold reserves have climbed steadily in 2024, adding legitimacy to investing physical gold among global asset allocators. Stock market participants take cue from these sovereign moves, often aligning their own safe-haven strategies. Silver, platinum, and palladium are also favored by investors. Gold is generally less volatile than silver, which can fluctuate widely in a single day. Silver’s industrial uses make it more responsive to economic changes. "Gold checks all of those boxes," said Sameer Samana, head of global equities and real assets at the Wells Fargo Investment Institute. Record-high margin debt in equity markets has some institutional investors pivoting toward safer allocations in investing physical gold. This defensive reallocation often precedes equity drawdowns, making bullion an important barometer for broader market sentiment.