The rush toward gold makes financial sense, experts said. The asset offers investors a hedge against uncertain stock performance, since gold prices often display a degree of independence from movements in equities markets.

Gold prices have gained more than 40% over the past 12 months and despite a pullback, experts see more bullish signs for the yellow metal to move even higher in the coming months.

A question some investors may be asking is, “How much higher can the price of gold go?” No one has a crystal ball but analysts at Bank of America this week put out a note raising their price ...