Gold just smashed through another all-time high. The rally is being fueled by two main forces right now: rising geopolitical tensions keeping investors on edge, and growing expectations that the Federal Reserve will cut rates more aggressively down the line. When central banks signal looser monetary policy, it typically strengthens the case for hard assets like gold as a hedge against currency debasement. For crypto investors tracking macro trends, this kind of safe-haven demand can signal broader shifts in risk appetite across markets.