preCharge News BUSINESS — Gold prices hit $4,000 for the first time Tuesday as investors seek a safe haven from geopolitical volatility, economic uncertainty and stubborn inflation.

Gold futures were last trading at $4,005.80 per ounce. Prices have gained more than 50% this year as President Donald Trump upends the global trade system and threatens the independence of the Federal Reserve.

Central banks and retail investors are buying gold at a strong clip. Governments are trying to hedge against the risk of U.S. sanctions and consumers are looking for protection against inflation.