Gold prices soar to record high: What's driving the rise
Gold prices have smashed through the $4,000 per ounce mark for the first time ever—a jump of over 50% since the start of this year.
What's wild is that gold soared by $1,000 in just the last 210 days (since April 1, 2025).
For comparison, it took nearly 15 years to climb from $1,000 to $2,000 between 2009 and early 2024.
Central banks resumed buying in August
Central banks are a big part of the story—they paused buying in July but picked up again in August, adding another 15 tons to global gold reserves.
Plus, worries about a long US government shutdown and ongoing economic uncertainty have made gold even more popular as a safe place to park money.
Even though some experts warn prices could dip after such a fast rise, fears about US debt and possible Fed rate cuts are keeping demand strong.