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- A default could push gold to a new record high as investors would seek safe haven assets.
- In a default, a weaker dollar and falling Treasury yields could also bring gold up.
- Even if a last-second deal was reached, gold could see a near-term rise, RBC Capital Markets said.
As lawmakers continue to lock horns over lifting the debt ceiling, gold has started to look like an increasingly attractive bet.
The precious metal has flirted this month with its record high of $2,075.47 per ounce set in August 2020, according to Bloomberg data. And while it pulled back this past week, gold is up 11% year to date and 25% from a November low.