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2d ago

Gold Surges Past $4,000 to Set New Record

Record ETF inflows alongside persistent central‑bank buying are propelling a year‑to‑date gain above 50%.

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Gold has climbed more than 20 per cent since the end of July to about US$4,000 an ounce. Photo: Reuters

Overview

  • Spot prices hovered near $4,020 on Wednesday, putting gold up roughly 54% in 2025 after a 27% rise in 2024.
  • The U.S. government shutdown, wars in Ukraine and Gaza, tariff and policy uncertainty, and expectations for lower U.S. rates have intensified safe‑haven demand.
  • Physically backed gold ETFs logged a record $26 billion quarterly inflow in September, lifting assets under management to an all‑time high of $472 billion, led by North American and European funds.
  • Central banks remain heavy buyers, with consultancy estimates indicating purchases could reach about 1,000 tonnes in 2025 for a fourth straight year of elevated accumulation.
  • Analysts flag stretched technicals—with gold’s RSI near 88—and warn of volatility even as major banks boost outlooks, including Goldman Sachs raising its December 2026 target to $4,900 per ounce.