Gold futures have soared above US$4,000 per troy ounce for the first time, as many investors seek a “safe haven” to park their money as the US government shutdown continues.
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Gold futures in New York jumped above the US$4,000 mark on Tuesday morning, marking a record high. The going price for New York spot gold had previously closed at US$3,960.60 per troy ounce – the standard for measuring precious metals – on Monday.
Gold sales can rise sharply when anxious investors seek secure investments for their money.
Before Tuesday, the asset – and other metals, like silver – had seen wider gains over the last year, particularly with US President Donald Trump’s barrage of tariffs plunging much of the world into economic uncertainty.
How much have gold prices climbed this year?
Gold futures are up about 50 per cent since the start of 2025 – trading at around US$4,008 per troy ounce as of around 11am New York time on Tuesday. That’s up from around US$2,670 seen at the beginning of January.
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