Gold shatters $4,000 milestone as investors rush to safety

Gold surged past the $4,000 an ounce level for the first time on Wednesday, building on a record-breaking rally as broader geopolitical and economic uncertainty, as well as expectations of U.S. interest rate cuts sent investors flocking to the safe-haven asset. Spot gold was up 1.6 percent at $4,045.19 per ounce by 11:38 a.m. ET (1538 GMT). U.S. gold futures for December delivery gained 1.6 percent to $4,067.00. Silver also latched on to gold's rally, gaining 3.3 percent to $49.39 per ounce, and hovering just below its all-time high of $49.51. Gold, traditionally seen as a store of value during times of instability, is up 54 percent year-to-date, after gaining 27 percent in 2024. It is one of the best-performing assets of 2025, outpacing advances in global equity markets and bitcoin and losses for the U.S. dollar and crude oil. Its rally has been propelled by a combination of factors, including expectations of U.S. interest rate cuts, mounting political and economic uncertainty, strong central bank buying, hefty inflows into gold-backed ETFs and a weakening dollar. "Gold's strength reflecWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times