Gold "writes" history - Exceeds $4,000 for the first time
Gold has crossed the $4,000 mark for the first time, reaching a new historical record, driven by investors seeking safety in the face of economic and geopolitical instability.
Spot gold rose 0.9% to $4,017.16 an ounce on Wednesday morning. Meanwhile, U.S. December futures also rose 0.9% to $4,040 an ounce.
Traditionally seen as a store of value in times of uncertainty, the yellow metal is one of the best-performing assets in 2025, up 53% year-to-date, after expanding 27% in 2024.
"The market is likely to target the next 5,000 as the Federal Reserve continues to cut interest rates," analysts explain.
"There will certainly be obstacles, such as a lasting ceasefire in the Middle East or in Ukraine. But the fundamental factors that are driving this trend, such as massive rising debt, reserve diversification and a weak dollar, are not expected to change in the medium term," they add.
Gold's rise has been driven by a mix of factors, including expectations of interest rate cuts, political and economic uncertainties, strong buying by central banks and a weakening US dollar.
Meanwhile, the US government shutdown has delayed the release of key economic indicators from the world's largest economy. This has forced investors to rely on secondary non-government data to assess the timing and extent of potential rate cuts by the Fed. In addition, political unrest in France and Japan has increased demand for the yellow metal as a safe-haven asset.
Analysts expect that investment funds backed by physical gold, purchases by central banks and the prospect of lower interest rates in the US will continue to support its price well into 2026.
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