US EditionThe price of gold reached $4,000 an ounce for the first time ever
Gold prices surged over 50% this year, driven by US government shutdown, expected Federal Reserve rate cuts, and geopolitical tensions, marking the best annual performance since 1979.
- Gold continued its upward surge, breaching the $4,000 mark for the first time ever and reaching $4,035 early Wednesday as investors sought out safe-haven assets.
- Persistent market drivers including the ongoing US government shutdown, global economic uncertainty, and anticipated US interest rate cuts have fueled this unprecedented surge.
- Analysts attribute the strong momentum to central bank buying, institutional and retail investment, and concerns over the sustainability of US debt and geopolitics.
- Spot gold has surged 53% so far this year, and according to one analyst, investor actions are feeding a pattern where any stall in price growth quickly triggers fresh rounds of buying.
- With technical resistance now shifting higher and some forecasters eyeing $5,000, many market participants expect further gains but remain alert to potential volatility.
398 Articles
398 Articles
Precious metal shatters milestone
Global crises, such as the Middle East conflict and the war in Ukraine, have stoked demand for bullion. Photo: Getty Images Gold has surged past the $US4000 ($NZ6900) an ounce level for the first time, building on a record-breaking rally as broader geopolitical and economic uncertainty, as well as expectations of US interest rate cuts, sent investors flocking to the safe-haven asset.
Several analysts point out that the closure of the U.S. government, along with the attacks on the Federal Reserve, have been the factors driving the value of gold.
Why gold is having its best year since 1979
Gold has broken yet another record this week, illustrating just how anxious investors are about the health of the U.S. economy.This week, the price of gold hit $4,000 per ounce for the first time ever. That’s the latest milestone in its massive ongoing rally, with prices rising more than 50% just this year.The precious metal is usually seen as a “safe haven” investment, especially when more mainstream assets seem risky. The soaring demand for it…
Why gold is at an all-time high
Gold is in the middle of what looks like an unstoppable bull run. It has already punched through $4,000 an ounce. At the rate the price is rising, it may well go to $5,000 within a few weeks, and perhaps even $6,000 as the next year unfolds. There have been lots of different explanations for this, from the looming collapse of the dollar, to secret Chinese buying, to the conspiracy theories circulating on the wilder fringes of the internet, such …
Gold Blasts Past $4,000 as Investors Flee to Safety Amid U.S. Political Turmoil
Gold prices were surging above $4,000 per ounce on Tuesday for the first time ever, as escalating political tension in the United States and renewed fears over global financial stability drove investors out of risk assets and into safe havens. Spot gold jumped more than 3% in intraday trading, building on a rally that has lifted the metal over 50% since January. The latest rally comes as markets brace for potential Federal Reserve rate cuts late…
Since the turn of the year, the price of gold has increased by over 50 percent.
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