Gold price breaks $4,000 an ounce for first time

HONG KONG (AFP)

The price of gold broke above $4,000 for the first time on Wednesday as investors rushed into the safe haven amid concerns about a range of issues, including the US government shutdown, while expectations for US interest rate cuts added to its allure.

The precious metal struck $4,000.01 an ounce in early Asian trade -- having risen more than 50 percent since the start of the year -- with traders also eyeing French political turmoil and uncertainty over the global economic outlook.