• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Gold Price Surpasses $4,000 for First Time

34 seconds ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
0
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Gold Price Surpasses $4,000 for First Time

Gold advanced to a new record on Tuesday, with futures surpassing $4,000 an ounce for the first time, as US rate cut expectations and political uncertainty across the globe continue to fuel safe-haven demand.

Three-month gold futures rose to as high as $4,014.60 per ounce before pulling back to $3,987.50, while spot gold set a new all-time high of $3,991 per ounce, a few dollars short of the $4,000-an-ounce level.

The rally gained new momentum as the US government shutdown entered its second week, depriving investors of key economic data needed to gauge the timing and extent of Federal Reserve rate cuts. The market is currently pricing in a 25-basis-point cut this month, with another anticipated in December.

Meanwhile, political turmoil in both France and Japan gripped currency and bond markets for a second day, adding to fiscal concerns and contributing to the rally in gold.

So far this year, bullion has gained nearly 50% as his aggressive moves to reshape global trade and geopolitics spurred a flight to safety and a move away from the dollar. Central banks and gold-backed exchange-traded funds have been enthusiastic buyers, and the US rate cut that began last month has added momentum to the rally.

High investment demand

RelatedPosts

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

England, Portugal, and Norway Poised for 2026 World Cup Qualification

Nicky Shiels, head of research and metals strategy at MKS Pamp SA, said that a mix of retail demand, especially in Europe and Japan, and institutional inflows have driven the latest surge in gold prices.

Reflecting the positive mood, Goldman Sachs — a long-standing bull on gold — raised its price forecast for December 2026 to $4,900 an ounce, up from $4,300, citing ETF inflows and central bank buying.

The latest data shows that the People’s Bank of China extended its gold buying streak in September for an 11th consecutive month as the safe-haven metal climbed to fresh records.

“I’d suggest overweight in gold — despite its high price — as a hedge against the US dollar and preparing for more shocks to come,” said David Chao, a global market strategist at Invesco Asset Management.

Allocation to gold as a percentage of investors’ portfolios is likely currently in the low single digits — but a level of around 5% is “a prudent measure to me,” he added.

Source: mining.com
Via: norvanreports
Tags: 000 for First TimeGoldGold Price Surpasses $4

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

England, Portugal, and Norway Poised for 2026 World Cup Qualification

Spending Smarter to Boost Growth

Asante Gold Reports Strong Exploration Results at Bibiani and Chirano Mines

Economic Uncertainty Can Test the Resilience of the Foreign Exchange Market

Inflation to Remain Within 8+/-2 Target Band by End-Q4, Says BoG Governor

BoG to Begin $1.1bn FX Intermediation Under Domestic Gold Purchase Programme this October

Trending

Business

Gold Price Surpasses $4,000 for First Time

October 8, 2025

Gold Price Surpasses $4,000 for First Time Gold advanced to a new record on Tuesday, with futures...

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

October 8, 2025

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

October 8, 2025

England, Portugal, and Norway Poised for 2026 World Cup Qualification

October 8, 2025

Spending Smarter to Boost Growth

October 8, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.