Gold surged to a new all-time high of $4,218 per ounce on Thursday, as investors sought safety amid mounting geopolitical tensions and persistent inflation concerns.
The precious metal’s unprecedented rise marks the latest milestone in a year defined by economic volatility and global instability. Analysts attribute the rally to a combination of factors, including heightened tensions in Eastern Europe, slowing global growth, and renewed investor appetite for safe-haven assets.
Market experts note that central bank purchases have also accelerated, with several nations diversifying reserves away from traditional currencies such as the U.S. dollar. “The demand from institutional and sovereign buyers has pushed gold into uncharted territory,” said Erin Matthews, senior commodities strategist at Horizon Capital.
In the United States, inflation data released earlier this week showed consumer prices edging higher, further fueling speculation that the Federal Reserve may delay interest rate cuts. The dollar weakened slightly against major currencies, adding to bullion’s upward momentum.
Meanwhile, silver and platinum also climbed, but the surge in gold has dominated global market headlines. Traders say the next key test will be whether prices hold above the $4,200 threshold a critical resistance level for long-term investors.
