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Gold Prices Surge Past $4,000 Amid Economic Uncertainty
Gold Prices Surge Past $4,000 Amid Economic Uncertainty
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BTCCSquare news:
Gold breached the $4,000 per ounce threshold for the first time on Tuesday, marking a historic milestone as investors flock to the precious metal amid heightened economic uncertainty. The rally reflects a broader 'debasement trade,' where gold serves as a hedge against declining confidence in traditional SAFE havens like the U.S. dollar and Treasurys.
Goldman Sachs has revised its price forecast upward, while the World Gold Council anticipates sustained momentum. Gold futures soared to a record $4,014, with year-to-date gains outpacing most S&P 500 stocks. Adam Turnquist of LPL Financial attributes the surge to fears of a U.S. government shutdown and FOMO-driven inflows into gold ETFs.
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