Gold prices have reached an all-time high, crossing the $4,000 per ounce mark for the first time as investors seek safety amid global economic and geopolitical uncertainty. On Wednesday, spot gold rose 0.7% to $4,011.18 per ounce, while U.S. December gold futures climbed to $4,033.40. The metal has gained about 52% so far in 2025, compared with 27% in 2024. Analysts attribute the rally to expectations of lower U.S. interest rates, a weak dollar, central bank gold purchases, and growing investment in exchange-traded funds. Independent metals analyst Tai Wong said the market is showing strong confidence, with $5,000 now seen as the next target. Political instability in France and Japan, coupled with the U.S. government shutdown, has further fueled demand for gold. Other precious metals also rose, with silver, platinum, and palladium showing significant gains.