Ajay Rajadhyaksha, Chairman of Barclays Global Research, has highlighted the recent rise in gold prices as a signal of growing market distrust in the current fiscal and monetary systems. In a report, Rajadhyaksha pointed out that the debt levels of major economies, including the United States, the United Kingdom, France, and Japan, have surpassed 100% of their GDPs, with fiscal positions continuing to worsen. He emphasized the lack of political will for fiscal consolidation as a critical issue. Rajadhyaksha noted that while traditional safe-haven assets like the Japanese yen and Swiss franc are losing appeal, gold typically gains value during economic instability or market downturns. Despite the current stability in financial markets, he warned that the rise in gold prices should be a concern for policymakers.