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Amid dark clouds of global debt and dysfunction, gold’s glitter grows

Stephen Bartholomeusz Senior business columnist October 8, 2025 — 12.00pm

Gold’s remarkable run this year is sending a number of troubling signals about the state of the world, and the United States in particular.

The gold price broke through $US4000 an ounce for the first time overnight, having soared more than 50 per cent this year and more than doubled over the past two years.

There’s no single reason for its surge, but rather a whole raft of them , within a loose envelope of concerns about global debt levels, political dysfunction, conflicts, monetary policies and the debasement of major currencies.

There might also be some effective hedging against the risk of a record

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