Investors can't hold back their AI bubble jitters anymore as gold pushes beyond $4,000 per ounce | Fortune

"The price of gold, which topped $4,000 per ounce for the first time on Tuesday, continued to rise, trading up nearly $53, or 1.3%, at $4,057.50. Investors have traditionally seen gold as a hedge against high inflation. Its price has soared more than 50% this year because of governments' huge debt loads, political uncertainties and anticipation that the Fed will continue to trim its benchmark lending rate after cutting for the first time this year in September."

"The minutes of that September meeting will be released today at 2 p.m. ET, which investors and analysts will scour for clues about how many more rate cuts could be coming this year. Most economists are expecting at least one more cut as the Fed tries to manage a weakening labor market and inflation that remains above its target of 2%."

"U.S. stocks are edging higher, a day after breaking their seven-day winning streak, while the price of gold is pushing further past $4,000 per ounce. The S&P 500 rose 0.2% in early trading Wednesday and is near its all-time high set on Monday. The Dow Jones Industrial Average rose 51 points, and the Nasdaq composite climbed 0.4%. AST SpaceMobile soared after Verizon Communications agreed to use its space-based network to offer service to its cellular customers when needed, starting next year."

U.S. stocks edged higher Wednesday, with the S&P 500 up 0.2%, the Dow rising 51 points, and the Nasdaq climbing 0.4%, leaving the S&P near its all-time high. Futures for the S&P 500 and Nasdaq rose 0.1% before the bell, and Dow futures gained 0.2%. Gold topped $4,000 per ounce and traded around $4,057.50, rising about $53 or 1.3%. Gold's price has increased more than 50% this year amid large government debt, political uncertainties and expectations of further Fed rate cuts. The Fed's September meeting minutes are due at 2 p.m. ET. AST SpaceMobile jumped after Verizon agreed to use its space-based network next year, and Equifax shares rose after cutting its mortgage credit score product price.

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