Gold zooms past $4,000 for first time in historic flight to safety
October 2025 5 views 2MIN 16SECAnd the price for the rare metal soared to record highs Wednesday, surging past $4,000 an ounce for the first time. It's now up more than 50% this year. Analysts say the rally is driven by concern over the U.S. government shutdown, political and economic uncertainty around the world, and expectations of further interest rate cuts by the Federal Reserve. Economist Daniel Altman says the precious metal is rising as investors prepare for more shocks to come: "Gold is going up because investors are looking for an inflation hedge. They're worried about the huge debts that are being run up by major economies around the world, and they see the possibility for a devaluation of some of those currencies." "The government shutdown's really a symptom of the fiscal problems that have been happening in the United States and around the world. These debts are unsustainable, and we need to either raise taxes or cut spending in order to reduce them if we're not gonna do a currency devaluation."
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