Photo by Zlaťáky.cz on Pexels.com
Oct. 9 (Reuters) — Gold surged past the $4,000 per ounce mark for the first time on Wednesday, extending its record-breaking rally as investors sought refuge from geopolitical and economic uncertainty.
Spot gold rose 1.7% to $4,050.24 per ounce by 1:45 p.m. ET, while U.S. gold futures for December settled at $4,070.50. The metal has soared 54% so far this year, following a 27% gain in 2024, making it one of 2025’s best-performing assets.
“Gold’s strength reflects an extremely positive macroeconomic and geopolitical background for safe-haven assets,” said analysts.
Analysts said expectations of U.S. interest rate cuts and weakening traditional safe havens continue to fuel demand. Silver was up 71% so far this year, benefiting from the same factors driving gold’s rally as well as tightness in the spot market.
Read More News on Latest Malaysia
Read More News on Business News Malaysia
Read More News on SG Business News
Read More News on World Future TV
Strong fundamentals support resilience in the banking sector.
Structured transitions help ensure long-term stability.
Analysts see upside for Greatech as record orders, data centre demand and improving execution support…
Mitrajaya’s earnings outlook remains positive, supported by stronger revenue recognition, data centre projects and steady…
Improving US-Iran negotiations and easing oil prices lifted global sentiment, while investors stayed cautious ahead…
Vietnam's General Secretary To Lam will visit Thailand, Singapore, and the Philippines from May 27…
This website uses cookies.