According to CoinMeta, both the US dollar and the yield on US Treasury bonds have declined, leading to an increase in demand for gold. Chris Weston, the research director at Pepperstone, pointed out that gold buying in the Asian market is driving up futures trading volumes, and there could be several reasons behind this. He mentioned that the weakening of the US dollar index, as well as the significant decline in both the nominal and real yields on US Treasury bonds, have also provided support for gold prices. Weston believes that buyers may also be seeking hedging to cope with the additional uncertainties that the Trump administration might bring in the future. He speculated that if the Democrats achieve a decisive victory, it could lead to the US government adopting a more confrontational stance, especially in international affairs.