Gold prices were surging above $4,000 per ounce 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 safer options. 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 later this year and as investors increasingly view bullion as a hedge against policy and geopolitical chaos.
Reuters noted that U.S. Treasury yields have eased on safe-haven flows, while exchange-traded funds linked to physical gold saw their biggest inflows since mid-2023.
Analysts said central banks, particularly in Asia and the Middle East, continue to expand their holdings amid concerns about the dollar’s long-term stability.
source:The price of gold reached $4,000 an ounce for the first time ever
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