Investors flocked to the safe-haven asset to seek protection against rising geopolitical uncertainty while also betting on further U.S. interest rate cuts. The price of gold broke through the $4,000-per-ounce barrier on international markets this Wednesday, as investors sought refuge amid concerns over the U.S. economy and the ongoing government shutdown, which have been the latest driving forces behind the surge.
Gold rose 1.36%, reaching a record high of $4,039.05, before easing slightly. Around 9 a.m. in Luanda, spot gold was trading at $4,032.73 per ounce, representing a 1.2% increase.
So far this year, gold has gained over 50%, according to Negócios, amid a global climate of deep uncertainty — particularly concerning international trade, the U.S. Federal Reserve’s monetary policy and independence, and the health of the public finances of the world’s largest economy. Added to this are geopolitical tensions, especially the conflicts in Ukraine and Gaza.
Goldman Sachs has revised its December 2026 gold price forecast upward to $4,900 per ounce.
Source: Expansão
