The price of gold futures for December 2025 delivery on the New York Mercantile Exchange (Comex) reached $4,000.1 per troy ounce on October 7, setting a new all-time high.
According to Reuters, prices slightly corrected this morning, with gold trading at around $3,985 per ounce.
Analysts attribute the surge to increased demand for safe-haven assets amid the first U.S. government shutdown in six years, expectations of monetary policy easing by the Federal Reserve, and political instability in France and Japan.
Another major driver was large-scale gold purchases by central banks, particularly in emerging economies seeking to reduce dependence on the U.S. dollar.
Goldman Sachs forecasts that, if geopolitical uncertainty and the Fed’s soft policy persist, the price of gold could reach $4,900 per ounce by the end of 2026.
