Gold has significantly extended its record-breaking rally, trading near $4,025 at 05:00 UTC after a 1% rise on Wednesday, marking its first breach of the $4,000 threshold. This remarkable ascent sees the precious metal up 3.5% this week and an impressive over 53% year-to-date, largely driven by investors shifting towards safe haven assets amidst broader dollar weakness. Demand for gold-backed exchange-traded funds has been particularly fueled by a recent September US Federal Reserve rate cut and the ongoing US government shutdown, further propelling its upward trajectory, with Goldman Sachs now anticipating gold will reach $4,900 by December 2026, citing robust central bank and private sector buying.
Disclaimer
This article is for educational and informational purposes only. It does not constitute financial or investment advice. Cryptocurrency and Gold investments are subject to market risks. Always do your own research (DYOR) and consult a certified financial advisor before investing.
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