India, Oct. 7 -- Gold prices hit a historic milestone on Tuesday, reaching $4,000 per ounce for the first time ever. According to CNBC, gold futures were last trading at $4,005.80 per ounce, marking a more than 50% increase this year.

The surge comes as investors seek a safe haven from geopolitical instability, economic uncertainty, and stubborn inflation. US President Donald Trump's trade policies and criticism of the Federal Reserve have added to volatility, shaking confidence in traditional markets.

CNBC reported that both central banks and retail investors have been buying gold at a strong pace. Governments are hedging against US sanctions, while consumers are trying to protect their wealth from inflation. The Federal Reserve's rece...