NEW DELHI: Gold prices reached a historic milestone on Wednesday, crossing the $4, 000 per ounce mark in international markets for the first time ever.
The precious metal touched a record high of $4, 002.53 in spot trading, while December gold futures on the US Commodity Exchange rose 0.5 per cent to $4, 025 per ounce.
The sharp rally in gold prices has been driven by rising demand for safe-haven assets, as investors seek protection from growing global economic uncertainty and geopolitical tensions.
Speculation about possible interest rate cuts by the US Federal Reserve has further fuelled the rally.