Gold climbs above $4,600 for first time ever with geopolitical shifts

Gold rose to a new all-time high of $4,610.83 an ounce on Monday, rising 2.2 percent as investors flocked to safe havens amid a flurry of geopolitical and policy shocks in recent days. “Beyond monetary and political concerns, gold remains well supported by ongoing geopolitical risks,” said Forex.com analyst Fawad Razaqzada. “While tensions had eased somewhat in recent weeks, the latest flare-up involving Iran has reintroduced a fresh layer of uncertainty,” he added, pointing to the risk of renewed US involvement in the Middle East.