Gold tops $4,000 for first time as traders pile into safe haven

Gold prices broke $4,000 for the first time Wednesday as investors piled into the safe haven over expectations for US interest rate cuts and worries over the US government shutdown.

The rally in the precious metal also came after concerns that a tech-fuelled rally that has sent some equity markets to record highs may have gone too far, fanning talk of an asset bubble.

Traders have been piling into gold all year, pushing it up more than 50% since the turn of the year, on the back of a range of issues including global economic uncertainty, Donald Trump's trade war and geopolitical crises.

By AFP

Full story at IOL