Gold is regaining favor globally due to increased political and trade risks, falling interest rates, and central bank purchases. A weaker US dollar, influenced by fiscal deficits and concerns over the Federal Reserve's independence, is making gold more attractive. While rising prices are impacting household demand in China and India, central bank buying in these emerging economies provides a counterweight. The pursuit of dollar alternatives for trade is also fueling gold's rise, though a return to a gold standard is unlikely.