Gold is considered a resilient investment and a hedge against inflation and economic uncertainty. Chris Ratcliffe/Bloomberg/Getty Images

Gold prices hit $4,000 per ounce Tuesday for the very first time, driven by strong investment demand amid broader geopolitical and economic uncertainty, along with expectations of further interest rate cuts from the Federal Reserve.

Gold has climbed 51% so far this year on sizable central bank buying, increased demand for gold-backed exchange-traded funds, a weaker dollar and growing interest from retail investors seeking to hedge amid rising trade and geopolitical tensions. During the first quarter of the year, gold posted its strongest quarterly return since 1986.

Gold thrives in a low interest rate environment and during economic uncertainty. It i

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