The price of gold exceeds 4000 dollars for the first time in its history

Gold broke the level of $ 4000 per ounce today, Wednesday, to record the highest level ever, driven by investors seeking safe haven in light of the escalating economic and geopolitical fog, as well as the expectation of the Federal Reserve (the US Central Bank) to further discounts in interest rates.

Gold rose in instant transactions 0.5% to $ 4002.53 an ounce by 02:13 GMT. The US gold futures for December delivery increased 0.5% to $ 4025 an ounce.

Gold is usually considered a store of value in times of instability. Gold increased in instant transactions 52% since the beginning of the year after its rise 27% in 2024, according to “Reuters”.

“There is a lot of confidence in this trade to the extent that the market is awaiting the next large number of 5000, as the Federal Reserve continues to reduce interest rates,” said Tai Wong, an independent metal merchant.

He added: “There will be some obstacles on the way, such as a permanent truce in the Middle East or Ukraine, but it is unlikely that the basic engines of trade, huge and growing debts, diversification of reserves, and the weakness of the dollar in the medium term.”

A group of factors such as increasing the purchases of central banks, and renewed interest in the gold -backed investment funds, the dollar and the power of demand from individuals, led to enhancing the rise of the yellow metal.

The American government closure entered its seventh day on Tuesday, and led to the postponement of the issuance of major economic indicators, forcing investors to rely on non -governmental secondary data to expect the timing and extent of reducing interest rates.

Investors are now expected to reduce the interest rate by 25 basis points at the Federal Reserve meeting this month, and an additional reduction by 25 basis points in December.

In addition, the political turmoil in France and Japan strengthened the demand for the yellow metal, which is a safe haven. Analysts say that “fear of missing the opportunity” also promotes height.

“What we see now is that investors buy gold, despite the high price, which increases the strength of its movement,” said Giovanni Stonovo, an analyst at UBS.

For other precious metals, silver in instant transactions increased 0.5% to $ 48.03 an ounce, platinum increased 2.2% to $ 1653.21, and palladium rose 1.3% to 1355.32 dollars.