Gold Surpasses $4,000: A Safe-Haven Surge Amid Global Uncertainty

In an unprecedented move, gold prices surpassed the $4,000 per ounce mark, hitting $4,041.71 in mid-morning trading. This surge is part of a broader bullish rally fueled by heightened geopolitical tensions and economic uncertainty, along with anticipated cuts in U.S. interest rates.

Silver, riding on gold's coattails, reached $48.92 per ounce, close to its historical high. The precious metal has gained 54% this year, outshining global equity markets and other financial assets. Analysts suggest this rally is driven by strong central bank buying, increased gold ETF inflows, and a weakening dollar.

Experts predict the continuation of this upward trend as global conflicts and political unrest worldwide drive demand for safe-haven assets like gold and silver. With the market expecting further U.S. interest rate cuts and a persistent fear of missing out among investors, gold's prospects for hitting $5,000/oz seem plausible.

(With inputs from agencies.)