The price of gold reached $4,000 an ounce for the first time ever
Gold futures climbed over 50% this year, driven by geopolitical tensions, U.S. government shutdown, and expectations of Federal Reserve rate cuts, analysts said.
- On Tuesday, Oct. 7, gold futures for December delivery settled at $4,004.4, after briefly touching $4,005.80 and futures surged past $4,000 for the first time.
- Markets expecting further Fed rate cuts are shifting into safe havens as the dollar has weakened about 10% year-to-date and the current rate of inflation is 2.9%.
- Global ETFs backed by gold and central banks have recorded heavy inflows, pushing prices up 52% in 2025, while retail outlets Costco and Walmart sell out PAMP Suisse 1-ounce gold bars priced around $4,193.
- Major U.S. stock indexes fell on Tuesday, the S&P 500 ending lower and the Dow Jones Industrial Average fell 91.99 points, while analysts caution that short-term volatility could persist.
- Goldman Sachs now projects prices near $4,900 by end of next year as central banks and monetary authorities ramp up gold purchases amid de-dollarization trends.
111 Articles
111 Articles
Gold futures surpass $4,000 amid US shutdown
KEY TAKEAWAYS: Gold futures reach record $4,013 per troy ounce amid economic uncertainty. Investors flock to precious metals as a “safe haven” during U.S. government shutdown. Silver futures also surge, up about 60% year-to-date. Rising gold demand raises environmental concerns over mercury use in mining. Gold futures have soared above $4,000 per troy ounce for the first time, as many investors seek a “safe haven” to park their money as th…
Gold Reaches $4,000 for First Time Ever
Gold prices reached $4,000 for the first time on Oct. 7 as investors navigated economic and geopolitical turbulence, seeking shelter in the safe-haven asset. Gold futures surged to an intraday record high of $4,014.60 per ounce on the COMEX division of the New York Mercantile Exchange. The yellow metal has soared almost 52 percent this year. Silver, the sister commodity to gold, reversed its meteoric ascent and slipped nearly 2 percent to below …
Coverage Details
Bias Distribution
- 46% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium