Gold Surges Past $4,000 as Global Uncertainty Fuels Record Rally
- Rahaman Hadisur
- Oct 13
- 2 min read
Hadisur Rahman, JadeTimes Staff
H. Rahman is a Jadetimes news reporter covering the Business
The price of gold has soared to an all time high of more than $4,000 an ounce, as investors rush toward safe-haven assets amid escalating economic and political instability around the world.
The precious metal has climbed by nearly one-third since April, marking its strongest rally since the 1970s. Analysts attribute the surge to growing concerns over U.S. President Donald Trump’s tariffs, which have disrupted global trade, and delays in the release of key economic data due to the U.S. government shutdown, now entering its second week.
On Wednesday afternoon in Asia, spot gold the real time market price for immediate delivery hit $4,036 an ounce, while gold futures reached the same level earlier this month.
“Persistent uncertainty surrounding U.S. fiscal policy and the government shutdown has been a tailwind for gold prices,” said Christopher Wong, a rates strategist at OCBC Bank. During Trump’s first-term shutdown, gold rose nearly 4% over the month-long period.
Analysts at UOB Bank described the latest rally as “unprecedented,” fueled by a weaker U.S. dollar and a surge in buying from retail investors. The World Gold Council reported a record $64 billion invested in gold-backed exchange-traded funds (ETFs) this year.
In Singapore, Gregor Gregersen, founder of Silver Bullion, said his firm has seen customer numbers more than double. “Most of our clients are long-term holders,” he said. “Given the current environment, gold’s upward trend could last at least five years.”
Still, analysts caution that prices could retreat if interest rates rise or global tensions ease. For now, though, gold’s renewed role as a hedge against uncertainty appears stronger than ever.
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