The price of gold has soared to a historic high, crossing $4,000 per troy ounce (31.1g) as global investors have flocked to the asset over the past year.

Gold futures, which are contracts to buy or sell gold at a certain price, passed the threshold on Tuesday, followed by the spot price of gold on Wednesday afternoon in Asia.

Gold has long been viewed as a favoured “safe haven asset” in times of economic uncertainty because it is a physical commodity that can be owned and stored.

But analysts say its surge in recent months points to a more dramatic shift: Gold may finally be breaking out of its shell to become an “asset for all occasions”.

What’s happened to the price of gold this year?

The price of gold has risen more than 50 percent since the start of 2025 in a historic run for the

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