With the Olympics kicking into its second full-week, GB will be hoping for yet more golds, but they won't be alone.
Investors have been flocking to gold as a safe haven asset during the current market uncertainty, with the price of the precious metal having jumped more than 1.75% to £1,900 in the last week.
Rob Morgan, chief investment analyst at Charles Stanley (LSE:CAY) (Charles Stanley (LSE:CAY)), said: "The fascination and appeal of gold has stood for millennia... But gold has a special allure for many investors too.
"It tends to maintain its spending power over time, can become the go-to asset in times of crisis, and represents an ‘independent’ currency that cannot be debased.
"Gold has performed remarkably well in 2024 to date, rising by 17% despite elevated real interest rates. The explanation lies in ongoing central bank buying, strong investment flows out of Asia and resilient consumer demand.
"There are also concerns of a more inflationary environment should Donald Trump win the US election. His policies of reshoring and tariffs could stoke price rises in the world’s most important economy, and this has driven some investors to increasingly prize monetary safe havens."