Gold prices continue to rise, reaching new highs.

George Milling-Stanley, chief gold strategist at State Street Global Advisors, believes that gold's recent rally to a record high of over $2,080 an ounce is just the beginning of a long-term rally through 2023, driven by market uncertainty and investor anxiety. He expects safe-haven demand to overshadow any more rate hikes from the Federal Reserve. Central bank demand is creating a solid floor in the market, and Milling-Stanley expects this trend to continue as central banks are dangerously overexposed to the U.S. dollar and underexposed to gold.