Warning to gold investors: Records are not normal

Source: News Center

Goldman Sachs Vice Chairman Robert Kaplan issued a warning to gold investors.

Kaplan stated that it's not normal for gold to break records every day, saying, "Gold breaking the $4,000 barrier and reaching new records should be seen as a warning sign. Currently, gold, not US bonds, is seen as a safe haven. The precious metal's nearly 40% rise since the beginning of the year is a warning sign that shouldn't be ignored."

The ounce of gold continues to break records due to the increased risk caused by geopolitical risks as well as the federal government shutdown in the US.

Gold, which began this year at $2,620 an ounce, has been heavily buying due to geopolitical developments, tariffs implemented by the US government, and global political uncertainty. The government shutdown in the US, combined with these developments, has accelerated the price of gold.

Gold surpassed $4,000 per ounce for the first time today. Starting the day on a positive note, the price of gold broke a record by rising to $4,037.10 per ounce.

Thus, the ounce of gold has gained over $1,400 since the beginning of the year.

Broke a record: Gold price per ounce exceeded $4,000 for the first time