Gold prices hit $4,000 an ounce for the first time Tuesday as investors piled into the precious metal at a time of stubborn inflation, a lingering government shutdown and deepening geopolitical risks.

Gold futures briefly touched $4,005.80 before settling just below the milestone on Tuesday morning.

Prices have soared more than 50% this year, fueled by fears of a prolonged funding crisis in Washington and President Donald Trump’s escalating trade clashes with China and the European Union. 4

The surge cements gold’s status as 2025’s best-performing major asset, outpacing US stocks and cryptocurrencies as central banks, sovereign funds and retail buyers rush to shield their portfolios from market shocks.

Demand has swelled from both sides of the trade.

Governments led by China

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