Gold prices surged to an unprecedented level on Wednesday, breaking the $4,500-per-ounce mark for the first time as investors sought safety amid growing geopolitical uncertainty and expectations of future interest rate cuts.
According to market data, spot gold prices climbed to approximately $4,525.96 per ounce, marking a sharp rise over the year and underscoring strong demand for the precious metal.
The rally also lifted other metals, with silver and platinum touching record highs.
Analysts say the surge reflects a mix of safe-haven demand, persistent global economic and geopolitical risks, and expectations that the United States may begin cutting interest rates in 2026, a move that typically boosts non-yielding assets such as gold.
The rally comes amid continued global uncertainty, including geopolitical tensions in several regions, which have prompted investors to seek out assets perceived as more stable.
Ongoing purchases by central banks and sustained interest in gold-backed exchange-traded funds have also supported prices.
Market watchers are now assessing whether gold can sustain its record levels into 2026 as attention turns to monetary policy decisions and the broader outlook for the global economy.
