The global financial system is in turmoil, and investors are responding with a frantic rush into the one asset that promises refuge: gold. On Tuesday, the precious metal made history, soaring past the $4,000 per ounce mark for the first timeever.
Gold futures were last trading at $4,005.80 per ounce, a price surge fuelled by a toxic mix of geopolitical volatility, economic uncertainty, and stubbornly high inflation. The yellow metal has gained over 50% this year alone, marking its highest return in a calendar year since 1979.
