Gold broke the 4000 dollars per ounce level on Wednesday, marking an all-time high, driven by investors’ rush toward safe havens amid escalating economic and geopolitical uncertainty, along with expectations that the U.S. Federal Reserve may proceed with further interest rate cuts.
Spot gold increased by 1.29 percent to 4,035.07 dollars per ounce. U.S. gold futures for December delivery also rose 0.5 percent to 4025 dollars per ounce. Gold in spot trading has surged 52 percent since the beginning of the year after rising 27 percent in 2024.
