Muscat: Gold surged past the $4,000 mark per ounce for the first time in history today, as investors sought safe-haven assets amid intensifying economic and geopolitical uncertainties and growing expectations of further interest rate cuts by the US Federal Reserve. Spot gold rose 0.1% to $4,021.22 per ounce, while US gold futures for December delivery advanced 0.5% to $4,025 per ounce.
According to Oman News Agency, traditionally viewed as a store of value in times of instability, gold has been one of the strongest-performing assets in 2025, soaring 53% year-to-date after posting a 27% gain in 2024.
In other precious metals markets, spot silver increased 0.5% to $48.03 per ounce, platinum rose 2.2% to $1,653.21, and palladium climbed 1.3% to $1,355.32.