Spot gold prices reached near-all-time highs as multiple catalysts pushed prices higher, such as a weak US dollar, the US debt ceiling standoff, and global economic fears. Investors shifted from the dollar to gold-like assets due to a drop in the outlook for global interest rates. The recent banking crisis, predictions of a pause in US interest rates and signs of easing inflation prompted investors to flock to safe-haven assets. The short-term outlook for gold remains positive, but there is a chance of correction. However, any downside turnaround point is seen at $1800 an ounce.