Bank of America warns that gold may be the last true safe haven as the U.S. national debt climbs to unprecedented levels, casting doubt on the stability of traditional assets like Treasury bonds.

Bank of America strategists see 11% upside for gold by the end of next year as the Treasurys are threatened by soaring US debt levels.

Gold at record highs as investors flock to it as safe haven asset amid rising inflation expectations and Fed's policy shifts.

With the U.S. national debt ballooning to over $35 trillion, analysts are starting to question whether traditional investments, like Treasury bonds, can still provide stability. The answer, according to Bank of America’s latest report,

"Indeed, rising funding needs, debt servicing costs and concerns over the sustainability of fiscal policy may well mean that gold prices could increase, if rates move up."

Despite the long-standing belief that U.S. treasuries are a solid place to store money, that notion could change as governments take on more debt. “Gold appears to be the last s