Gold price has soared to a new high, reaching close to $4,000 dollars an ounce.

The price of gold was at $3,974 at 6PM, as it continues to build momentum towards the $4,000 an ounce mark.

Analysts say investors sought safety amid escalating political uncertainty in France, the ongoing U.S government shutdown primarily a result of an impasse over federal spending, as well as growing expectations of further Federal Reserve rate cuts.

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