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Gold prices hit $4,000 for the first time Tuesday as investors seek a safe haven from a weaker dollar, geopolitical volatility, economic uncertainty and stubborn inflation.

Gold futures closed at a record $4,004.40 per ounce, after hitting an intraday all-time high of $4,014.60. Prices have risen about 50% this year as the U.S. dollar index has dropped 10% and President Donald Trump upends the global trade system and threatens the independence of the Federal Reserve.

Central banks and retail investors are buying gold at a rapid pace. China and other countries are diversifying away from U.S. Treasurys and into gold after Washington imposed stiff sanctions on Russia over its invasion of Ukraine i

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