Gold hits record high amid global uncertainty
Gold prices have surged to an all-time high above $4,000 an ounce as investors seek safe assets amid mounting economic and political instability worldwide, reports a Kazinform News Agency correspondent.
The price of spot gold climbed to $4,036 per ounce in Asian trading on Wednesday, marking its strongest rally since the 1970s. The metal has risen by about a third since April, when U.S. President Donald Trump imposed new tariffs disrupting global trade.
Additional pressure comes from the ongoing U.S. government shutdown, which has delayed key economic data and heightened investor anxiety.
Analysts attribute the rally to several factors, including a weakening U.S. dollar, rising retail investment, and steady purchases by central banks. Since 2022, central banks have collectively bought more than 1,000 tonnes of gold annually, more than double the average of the previous decade.
Investor demand has also been strong, with record inflows into gold-backed exchange-traded funds. Experts note that while prices may fluctuate depending on interest rate changes or easing geopolitical tensions, current trends point to continued strength.
The sustained rise in gold underscores broader concerns over inflation, trade tensions, and uncertainty surrounding U.S. fiscal policy. For now, the metal remains one of the most attractive assets for investors seeking protection against global volatility.
Earlier, it was reported that global financial markets are seeing a surge in demand for alternative assets, with both Bitcoin and gold reaching record highs amid the ongoing U.S. government shutdown.