Gold prices surged to an all-time high on Wednesday as investors sought safety amid rising global political and economic uncertainty.
In the international market, gold climbed above $4,800 per ounce for the first time in history. Strong demand for safe-haven assets and a weaker US dollar drove the rally.
Spot gold rose 1.2 percent to $4,821 per ounce during the session. Prices briefly touched a record intraday high of $4,843. US gold futures for February delivery also advanced by 1 percent, trading near $4,813 per ounce.
Market experts link the surge to growing geopolitical tensions and investor anxiety. Statements by US President Donald Trump on potential tariffs against European nations, remarks on asserting control over Greenland, and criticism of NATO allies unsettled financial markets. Trump said there was “no way back” on the Greenland issue and did not rule out the use of force, which intensified risk aversion.
Read: Gold Hits All-Time High as Global Prices Surge Past $4,700
He later softened his stance and said a solution could be reached with NATO that would satisfy all sides. Despite this, European leaders responded firmly. French President Emmanuel Macron stressed that Europe would not yield to pressure or threats.
Analysts say investors are reducing exposure to the US dollar and long-term bonds while increasing allocations to gold. The dollar hovered near a three-week low against the euro and Swiss franc. Asian equity markets also declined for a third straight session, reflecting cautious sentiment.
