For the first time in history, gold prices have crossed the $4,000 per ounce mark. This milestone reflects a remarkable transformation in the global investment landscape. Less than two years ago, gold traded below $2,000 — a level that now seems distant. As of early October 2025, spot gold has surged more than 54% year-to-date, climbing alongside growing unease about the U.S. government’s fiscal situation and the recent government shutdown.

Gold has entered uncharted territory in 2025. Spot prices surged to a record $3,527 per ounce in early September, fueled by expectations of U.S. interest rate cuts, central bank accumulation, and rising geopolitical uncertainty.