Precious Metals Boom: Gold Hits $4,000 as Turmoil Sparks Safe-Haven Frenzy
Gold futures surged past $4,000 an ounce for the first time, settling at $4,004.40 on Oct. 7 and rising further to $4,055 the next day. Silver climbed to $48.6 an ounce, its highest since 2011. Platinum jumped about 80% in 2025, while palladium and rhodium held steady. The rally comes amid global turmoil and heavy central bank gold buying.