Major investment firms like Schroders and UBS Global Wealth Management are advocating for gold as a key safe-haven asset in 2024, citing concerns over excessive US government spending, geopolitical uncertainty, and potential sovereign debt risks. Gold is seen as a preferred hedge against fiscal, geopolitical, and inflation risks, offering better diversification benefits than traditional safe havens like US Treasuries. The precious metal’s appeal is further bolstered by expectations of Federal Reserve rate cuts, continued central bank purchases, and its potential to benefit from concerns about US debt and dollar stability.