Business

Gold Reaches $4,000 for First Time Ever

Central bank demand, economic concerns, and government shutdown worries are some of the factors supporting the precious metal’s bull run.
Gold Reaches $4,000 for First Time Ever
An employee polishes gold bullion bars at the ABC Refinery in Sydney on Aug. 5, 2020. David Gray/AFP via Getty Images
Andrew Moran
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Gold prices reached $4,000 for the first time on Oct. 7 as investors navigated economic and geopolitical turbulence, seeking shelter in the safe-haven asset.

Gold futures surged to an intraday record high of $4,014.60 per ounce on the COMEX division of the New York Mercantile Exchange. The yellow metal has soared almost 52 percent this year.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."