Gold prices exceeded $ 4,200 per ounce for the first time on Wednesday, continuing the historical rise, as increasing expectations of interest rates and geopolitical upheavals drive investors to turn massively to metal which is a safe refuge.

Gold rose 1.2% to $ 4,188.95 per ounce, having earlier reached the historic high of $ 4,217.95. US Gold Gold Contracts for Delivery in December rose 1% to $ 4,205.20.

“Metal is on the rise and does not seem to want to stop … with the US and China commercial tensions rejuvenated in recent days, investors have even more reasons to offset their long -term investment in shares, differentiating their portfolios,” Forex.com.

Gold has risen almost 58% this year, pushing for a number of factors, such as geopolitical tensions, expectations to reduce interest rates, markets from central banks and strong inflows to ETF, Reuters notes.

“With $ 5,000 now just $ 800, I wouldn’t bet against that gold will eventually get there,” Razaqzada said, adding that a short -term correction is likely to remove the weakest investors and attract new ones.

Gold is considered a traditional compensation for uncertainty and inflation, and is also favored in low interest rates environments, as it is an asset without performance.

Investors estimate that there is a 98% chance of reducing interest rates by 25 basis points by the Fed in October, followed by another December decline, which is fully estimated at 100%.

In addition to demand for safe shelters, US President Donald Trump said Washington is considering interrupting some trade relations with China after imposing mutual port fees on both sides this week.

Markets are also watching the closure of the US government, which has stopped issuing official data and may blur the prospects of policy -making managers abroad.

Silver rises 2.5% to $ 52.75, after Tuesday’s record to $ 53.6.

His rise is due to a limited offer in London, but could quickly reversed if the shortage is reduced, said Michael Brown, a senior strategic analyst of Pepperstone.

Platina also rose 0.9% to $ 1,651.85 and Palladium 1.8% to $ 1,553.43.