Want to buy gold? What to know

The price of gold this week smashed through the $4,000-an-ounce barrier for the first time. But should you buy some?

The price of gold this week smashed through the $4,000-an-ounce barrier for the first time.

The precious metal has been steadily rising this year as investors look to “safe haven” investments to hedge against trade uncertainty and fears of a slowing economy.

Also contributing to anxieties are the weakening U.S. labor market, rising inflation and now a government shutdown that has entered its second week. Governments around the world are also facing increasing budget pressures. And President Donald Trump’s attacks on the Federal Reserve have shaken confidence in the safety of U.S. Treasury bonds for some investors.

“$4,000 is a historic breakthrough for gold,” analysts at ING wrote on Thursday. “Gold has long reflected global economic and political stress, with its price typically rising during periods of heightened uncertainty.”

They noted that during the 2007-08 global financial crisis, gold surged past $1,000, while during the pandemic it climbed to $2,000. Earlier this year, as Trump rolled out his aggressive global tariff plan, it surpassed $3,000.