Gold prices surged to an all-time high this week, with futures on the New York Mercantile Exchange briefly topping $4,000 per ounce on Monday — the first time in history the precious metal has reached that level.
In Asian trading on Tuesday, London spot gold also neared a record, touching $3,980 per ounce during intraday trading.
Analysts say the surge reflects investor anxiety over political and economic instability, including a possible U.S. government shutdown and mounting uncertainties in France and Japan.
Gold is often seen as a safe-haven asset in times of crisis, and experts suggest continued volatility in global markets could keep prices elevated in the near term.
According to CNBC, the rally underscores investors’ growing shift away from riskier assets amid fears of slowing economic growth and rising geopolitical tensions.
Source: Africanews
