Gold surpassed $4,000 an ounce for the first time Wednesday as investors piled into the safe haven investment over various economic concerns including the US government shutdown.

"This latest high marks the latest stage in what has been a meteoric rise in the gold price, which has now doubled in the last two years," noted Steve Clayton, head of equity funds at Hargreaves Lansdown.

The precious metal's recent rally has also come amid concerns that a surge in the value of technology companies, which has helped drive stock markets to record highs, may have been overdone.

Global economic uncertainty, US President Donald Trump's tariffs war and geopolitical crises are supporting gold, according to analysts.

It reached an all-time high above $4,040 an ounce Wednesday, while silver was also

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