Gold price hits record for 40th time this year

Gold continued its record-setting rally, surpassing the $4,000 level for the first time on Wednesday, as broader geopolitical and economic uncertainty firmed investor demand for the safe-haven metal.

Spot gold roared to $4,049.56 per ounce for its 40th record high this year. By 10:30 a.m. ET, it traded 1.5% higher at $4,044.78 per ounce.

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US gold futures for December delivery also rose 1.5% to an all-time high of $4.072 per ounce.

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