Spot Gold Surges Past $3,900 to Hit New All-Time High

Key Takeaways:Spot gold broke above $3,900 per ounce, setting a new all-time high on October 6.The move comes less than 10 days after gold first surpassed $3,800, signaling accelerating momentum.Rising macroeconomic uncertainty, a weaker U.S. dollar, and rate cut expectations continue to fuel safe-haven demand.According to BlockBeats, spot gold opened the week with strong upward momentum on October 6, climbing past the $3,900 per ounce mark to reach a record high.This milestone comes just days after gold broke above $3,800, reflecting growing investor demand for safe-haven assets amid mounting concerns over U.S. fiscal instability, the ongoing government shutdown, and a declining dollar.Analysts attribute gold’s latest surge to a combination of Federal Reserve rate-cut expectations, record U.S. debt levels, and an increasing shift toward inflation-hedge assets such as Bitcoin and precious metals.