$4,000 Gold: Investors Bet Big on Safety

Gold soared past the historic $4,000-per-ounce mark on Tuesday, fueled by anxious investors seeking safety amid mounting political, economic, and geopolitical turmoil. The milestone marks the first time in history the precious metal has breached this level, capping a dramatic year in which its price has surged more than 50% — its strongest performance since the 1970s. $4,000 Gold Often viewed as a haven during times of crisis, gold is on track for its best year since 1979, when prices more than doubled amid high inflation, a weakening dollar, and tensions in the Middle East. Today, a similar mix of concerns — from political instability and fiscal worries in the United States to geopolitical shocks abroad — is driving a rush into the metal. “Whether it’s geopolitical tension, economic concerns, or fears over interest rates, gold is benefiting from heightened uncertainty across the board,” said Ryan McIntyre, senior managing partner at Sprott, an investment firm specializing in precious...