Gold zooms past $4,000 for first time in historic flight to safety

Gold raced past $4,000 an ounce for the first time on Wednesday as investors piled into a record-breaking rally in the safe-haven asset to hedge against global economic uncertainty, while also betting on US interest rate cuts. Spot gold XAU= was up 1.3 percent at $4,036.22 per ounce by 1154 GMT. US gold futures GCv1 for December delivery gained 1.3% to $4,058. Silver XAG= also latched on to gold's rally, gaining 2.4% to $48.97 per ounce, and just shy of its all-time high of $49.51. Traditionally, gold is seen as a store of value during times of instability. Spot gold is up about 54 percent year-to-date, after gaining 27 percent in 2024. It is one of the strongest-performing assets of...