Gold prices soared past the $4,000 mark for the first time on Wednesday, as investors sought refuge in the precious metal amid expectations of US interest rate cuts and growing concerns over a potential US government shutdown.

The surge reflects widespread unease in global markets, where fears of an overheated tech sector and a looming asset bubble have prompted traders to shift toward safer investments.

Gold — traditionally seen as a symbol of stability in uncertain times — has risen over 50% since the start of the year, driven by economic volatility, trade tensions, and geopolitical instability.

Recent political turmoil in France, where the prime minister resigned and calls for early elections intensified, added further momentum to gold’s rally.

The metal climbed to a record $4,006.68, even as the US dollar strengthened against major currencies. Silver also approached its own historic high.

Analysts say central banks and investors — particularly in China — have been increasing their gold holdings, fueling the ongoing surge.

“Gold continues to benefit from political, economic, and inflation uncertainty,” noted Taylor Nugent of the National Australia Bank.

Meanwhile, Asian equity markets showed mixed reactions, with Hong Kong and Taipei among the hardest hit as tech shares retreated following disappointing earnings from Oracle.

The AI-driven stock boom that lifted companies like Nvidia to record valuations now faces scrutiny, as investors weigh the sustainability of such rapid growth.

Despite global uncertainty, some markets, including Tokyo, Manila, and Jakarta, posted modest gains, supported by optimism over potential economic stimulus measures.

In an increasingly fragile financial environment, gold’s rise serves as both a warning and a refuge — a reminder that amid volatility and change, confidence often finds its safest home in timeless value.