Gold prices climbed above $4,000 an ounce for the firsttime, marking a new record as investors reacted to growing concerns about theUS economy and the risk of a government shutdown.Investors Seek Safety Amid UncertaintyThe sharp increase reflects a continuation of this year’sstrong rally. Gold has risen more than 50% since January. The latest surgecomes amid renewed political friction in Washington, including pressure on theFed’s leadership. These developments have intensified demand for safe-havenassets as investors brace for potential economic disruptions.JoinIG, CMC, and Robinhood in London’s leading trading industry event!“Gold blew through $4,000. It’s up over $50, trading above$4,035,” said Peter Schiff, Chief Economist and Global Strategist, and Founderof SchiffGold. His remark came as the precious metal surged past thelong-watched threshold.“Silver is up over a dollar, trading just below $49. Goldmining stocks sold off yesterday as nervous investors expected $4,000resistance to hold, resulting in a correction in mining stocks,” Schiff added,noting the mixed reaction across related assets despite gold’s record move.I just woke up to see gold blow through $4,000. It’s up over $50, trading above $4,035. Silver is up over a dollar, trading just below $49. Gold mining stocks sold off yesterday as nervous investors expected $4,000 resistance to hold, resulting in a correction in mining stocks.— Peter Schiff (@PeterSchiff) October 8, 2025Holding Support, Eyes Further GainsThe H1 chart of XAUSD indicates that the rally began afterfinding support around $3,820. Following the formation of a bullish engulfingcandle, the price broke above the $3,900 level. After a brief pause, it has continued upward, following atrendline. At the time of writing, gold is trading well above $4,000. As longas this level holds as support, the price may sustain its upward momentum.JUST IN: Gold officially reaches new all-time high of $4,000. pic.twitter.com/g5hvv6xekS— Watcher.Guru (@WatcherGuru) October 8, 2025Gold Gains Support from Central BanksGold’s movement has often coincided with moments of globalor domestic strain. The metal surpassed $1,000 an ounce after the 2008financial crisis, crossed $2,000 during the pandemic, and reached $3,000 amidtrade disputes several years later.Geopolitical tensions and persistent demand from centralbanks have further supported prices. Many investors are turning to gold as ahedge against market uncertainty, with exchange-traded funds backed by themetal recording their largest monthly inflows in over three years.This article was written by Tareq Sikder at www.financemagnates.com.