Gold Surges Past $4,400: What’s Driving This Historic Rise?

Gold has reached a historic price of over $4,400 per ounce, marking a significant milestone amid geopolitical and economic uncertainties. This rise of nearly 70% since the beginning of the year is propelled by a combination of factors, including expectations of a Federal Reserve interest rate cut and a growing demand for safe-haven assets like gold and silver.

Analysts anticipate continued price increases, with some predicting a potential peak of $4,427 if the current momentum persists. The recent tensions, particularly between the U.S. and Venezuela, have further fueled this surge, leading investors to flock toward precious metals as a reliable investment.

As global uncertainty looms, gold's allure as a safe-haven asset has never been more pronounced.