The recent gold rally is counterintuitive, as high interest rates typically make bullion less attractive. Einhorn suggests that gold's rally is potentially due to countries in the East buying gold from Western nations. That being said, the commodity's sudden surge may come as a surprise. That's because the macro environment was supposed to create headwinds to gold's price appreciation, as the Federal Reserve's higher-for-longer interest rate stance typically makes other investments like bonds and saving accounts more appealing compared to the metal, as it's not a yield-bearing asset.