Fake gold bars piled up in Clermont-Ferrand France on March 25 2025.
Romain Costaseca | Afp | Getty Images
Gold prices hit $4,000 for the first time Tuesday as investors seek a safe haven from geopolitical uncertainty and stubborn inflation.
Gold futures were last trading at $4,005.80 per ounce. Prices have gained more than 50% this year as President Donald Trump upends the global trade system and threatens the independence of the Federal Reserve.
Central banks and retail investors are buying gold at a strong clip. Governments are trying to hedge against the risk of U.S. sanctions and consumers are looking for protection against inflation.
Bank of America urged investors on Monday to approach gold cautiously as prices were heading toward $4,000. BofA warned clients that gold faces "uptrend exhaustion," which could lead to "a consolidation or correction" in the fourth quarter.
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