While volatility surged across most asset-classes last week, there was one 'safe-haven' that saw its risk expectations tumble...

As Bloomberg notes, The CBOE/COMEX Gold Volatility Index - a gauge tracking the cost of hedging against price swings in the precious metal - dropped for a third straight week, the longest streak of the year.

At the same time, the biggest exchange-traded fund tracking bullion posted its longest run of inflows since September...

With the prospect of higher inflation and U.S. tariffs on metals, investors are turning to havens such as gold.