President Donald Trump’s decorators aren’t the only ones bringing gold back into fashion.

Investors, money managers and central banks across the world have piled into gold this year, and today pushed its price above $4,000 per ounce for the first time. The precious metal has gained more than 50% this year, setting a series of records in the process.

Gold, often seen as a haven during times of turmoil, is on course for its best year since 1979, when prices surged over 100% during a period of high inflation, a depreciating dollar and a geopolitical crisis in the Middle East.

There are uncomfortable echoes of that past surge today, said analysts, who attributed the recent rise in gold prices to demand from investors looking to shift away from U.S. assets at a time of political upheaval and

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