(MENAFN- Yolo Wire) The price of %Gold (TVC: $GOLD) has risen above $3,900 U.S. per ounce for the first time as investors seek safety with the U.S. government shutdown.

It is the latest record high for gold bullion, which has seen its price increase 47% this year amid heightened geopolitical and macroeconomic uncertainty.

Gold has reached record highs on more than 30 occasions in 2025 and many analysts expect the price to crest above $4,000 U.S. an ounce by year's end.

Gold's latest record was achieved as U.S. stocks fall due to the uncertainty and potential economic impacts caused by the government shutdown in Washington, D.C.

At the same time, the U.S. dollar has fallen to its lowest level in more than 20 years as investors move away from the greenback and seek out bullion as a safe haven.

And gold continues to get support from strong buying among central banks around the world, especially in China, which continues to purchase large quantities of bullion.

The latest economic data showed the U.S. economy lost 32,000 private jobs in September, yet another sign of a deteriorating labor market.

Some economists are now predicting a U.S. recession, while market watchers raise alarms about stock valuations.

The uncertainty is like to keep gold's price marching higher in coming months, as are further interest rate cuts by the U.S. Federal Reserve.

Lower interest rates reduce the opportunity cost of owning gold, making the precious metal a more attractive investment.

In the past month, the price of gold has risen a total of 12%.

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