Hong Kong. Gold prices crossed the 4,000-dollar mark for the first time in history on Wednesday as investors moved to safer places amid expectations of a US interest rate cut and worries about a partial government shutdown.

After the rapid rise of tech companies, there is now a concern that these markets are overvalued. Throughout the year, traders have relied on gold amid global economic uncertainty, US President Donald Trump’s trade policies and geopolitical tensions. As a result, the price of gold has increased by more than 50 percent this year.

In France, the resignation of the prime minister and political pressure on President Emmanuel Macron also made gold more attractive. Gold has reached $ 4,037.10 on Wednesday. At the same time, silver has also reached close to its own record.

The closure of some US government departments has increased uncertainty among investors. It has deferred key economic data, particularly on employment, and left the US central bank, the Federal Reserve, confused about its decision on interest rates.

National Australia Bank economist Taylor Nugent said the sharp rise in gold was supported by a strong influx of exchange-traded funds, strong demand from China and buying from central banks around the world. In the face of political, economic and inflationary uncertainty, gold is always profitable. ’

Chris Weston of Pepperstone writes that “the world’s Treasury and Reserve managers are looking for hedges to avoid financial instability, currency devaluation and unpredictable government policy — and gold is at the heart of it.” ’

Meanwhile, Asian markets have seen weakness. Equity markets fell despite the metals market being strong after questions about investing in artificial intelligence (AI) were raised. While Nvidia topped the $40 trillion valuation, Oracle’s cloud computing profits were weaker-than-expected, impacting global markets.

Stephen Innes, head of SPI Asset Management, said: “Even a small delay in cash flow in a market rated for completion feels like a “last call”. The traders did not wait for an explanation, they began to reduce their positions. The Oracle’s results did not end the party, but certainly silenced it. ’

Sales in tech companies increased in Asian markets. Alibaba and JD.com in Hong Kong, TSMC in Taipei and Renesas in Tokyo fell sharply. Markets in Hong Kong and Taipei were the worst affected, followed by Sydney, Mumbai and Singapore.

Markets edged lower on Wednesday after business-friendly conservative Sane Takaichi won the victory of business-friendly conservative Sane Takaichi as the ruling party’s leader in Tokyo. Investors are waiting for more monetary easing and stimulus plans.

Meanwhile, markets in London, Paris and Frankfurt remained stable, while Wellington, Manila, Bangkok and Jakarta were trading balanced.