Gold is glittering for investors, with prices now topping a record $4,000 an ounce . But the reasons behind the shiny metal's surge may be less than dazzling, with Wall Street analysts saying it reflects growing unease over the U.S. economy and political stability.

The price of gold has leaped 53% this year alone, far outpacing the 15% gain in the S&P 500 stock index over the same period. The price of an ounce of gold edged higher on Wednesday, touching $4,078, according to financial data company FactSet, with some analysts predicting it to go higher.

Investors have long turned to gold during periods of economic turmoil and high inflation, viewing it as both a safe haven when markets turn volatile and a hedge against rising prices.

Of late, however, stock prices have steamed to

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