Ofure Akhigbe
Gold prices have hit an unprecedented milestone, with U.S. gold futures surpassing $4,000 per ounce on Wednesday, according to Reuters—a historic first for the precious metal.
In Asian trading, London spot gold also climbed, reaching around $3,985 per ounce during intraday sessions.
Analysts attribute the surge to investor concerns over global instability, including political uncertainty in France and Japan, ongoing conflicts in Ukraine and the Middle East, and the protracted U.S. government shutdown.
Gold, widely regarded as a safe-haven asset, has seen rising demand as investors move away from riskier assets amid volatile markets. Expectations of Federal Reserve interest rate cuts have also made gold increasingly attractive.
Major financial institutions have adjusted forecasts in response to these trends. For example, Goldman Sachs raised its December 2026 gold price forecast to $4,900 per ounce, citing strong ETF inflows and central bank purchases.
As geopolitical and economic tensions persist, gold’s status as a secure investment continues to strengthen with further price gains likely in the near term.