The balance of power between the world's two dominant safe-haven asset classes is shifting once again — and this time, the reversal is as dramatic as it is swift.

Gold futures closed Monday at $4,540 per ounce, adding $50 — or 1.14% — on the session, capping a strong five-day run that has seen prices appreciate by 2.84%, or roughly $125, since last Tuesday.

Precious metals regain footing Friday, but geopolitical uncertainty keeps broader risk appetite suppressed