Gold spiked beyond $4,000 an ounce this week, just months after crossing $3,000 for the first time. Justin Sullivan/Getty Images New York —

Gold is having a gangbusters year — and that’s typically a red flag about the state of affairs in the world.

This week, gold blew past $4,000 an ounce , and some on Wall Street are betting the rally is just getting started.

When investors pile in to gold, it’s not usually during good times, but when they feel like the world is on fire. It’s long been the go-to safe haven during economic stress and worries about inflation.

Gold and stocks, both moving higher

The 2025 gains for the precious metal are historic, surpassing prior turbulent periods such as after the September 11 terror attacks, the 2008 financial meltdown or even the pandemic.

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