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Gold prices have hit a new high, while the value of Bitcoin has also surged.
The gains come as traders switch investing strategies, after nearly two years when rising interest rates helped fuel demand for US dollars and certain kinds of debt.
Investors now see a rising chance of rate cuts, which has reignited interest in other assets.
As Asian markets started trading on Monday, the price of gold jumped above $2,000, up 3%, before retreating.
Demand for dollars ticked up again later in the trading session on Monday, helping to push gold into retreat. Many investors holding gold were also taking advantage of the recent highs to sell, analysts said.
The gains have followed a weeks-long climb for the metal, which is seen as a “safe haven” and saw demand rise after the start of the Israel-Gaza war.
The latest rally was sparked by comments on Friday by the head of the US central bank, Jerome Powell.