Gold prices have soared this October, breaching $4,300/oz for the first time ever and up over 60% year-to-date reuters.com reuters.com. The safe-haven rally is driven by Fed rate-cut expectations, US political uncertainty and global tensions economictimes.indiatimes.com reuters.com. Analysts note no clear end to the rally: Metals Focus’s Matthew Piggott targets ~$5,000/oz absent a “major shift” ts2.tech, and HSBC now sees gold averaging near $5,000 by 2026 reuters.com reuters.com. In Asia, Diwali/Dhanteras festival buying has pushed Indian premiums to decade highs reuters.com, with domestic prices at ~₹1,31,700 per 10g reuters.com. Bullion flows are “insatiable” – record ETF inflows and heavy central bank buying underpin the surge ts2.tech reuters.com. Even silver joined the run – hitting a record ~$54.47/oz in mid-October reuters.com. Meanwhile US stocks ticked up as gold paused reuters.com, reflecting eased bank-credit worries and trade jitters.