Gold has done it again, breaking another historic milestone. On Tuesday, gold futures crossed the $4,000-per-ounce mark for the first time ever, while spot gold climbed above $3,970, as investors around the world rushed toward the metal’s familiar promise of safety.
The surge comes at a time when confidence in global stability is fading fast. In the United States, the government shutdown has entered its second week, leaving key federal agencies closed and important economic data unavailable.
With no clear end in sight, traders have turned cautious, betting that the Federal Reserve may cut interest rates twice before the year ends to steady the economy.
Across the Atlantic, France is also in turmoil. The unexpected resignation of Prime Minister Sébastien Lecornu has thrown Europe’s second-largest economy into uncertainty. His ongoing negotiations to form a new coalition have so far done little to calm anxious markets.
These twin crises, political in France and fiscal in the U.S., have combined to drive investors toward the world’s oldest refuge: gold. The metal has already gained about 50% this year, making 2025 its best run since the late 1970s, when oil shocks and inflation rocked global markets.
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For many, gold is more than a commodity; it’s a symbol of stability when paper currencies and policies seem to falter. Its value doesn’t depend on governments or banks, and that independence is exactly what makes it shine brightest in uncertain times.
