Gold prices soared to a record $4,000 per ounce on Tuesday (October 7), driven by strong investment demand amid global geopolitical and economic uncertainty. This milestone reflects a 51% increase in gold's value this year, as investors flock to the precious metal seeking a safe haven from market volatility and inflation concerns.

Central bank purchases, particularly from China, have significantly contributed to the rally. China's central bank added gold to its reserves for the eleventh consecutive month in September. Additionally, the ongoing U.S. government shutdown and the expectation of further interest rate cuts from the Federal Reserve have fueled demand for gold-backed exchange-traded funds (ETFs) and physical bullion .

The current environment, marked by a weaker dollar and ri

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