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Flight to Safety: Gold Surges Past $4,000, Staples Hold Up in US Selloff
Investors seek safety in gold, silver, and staples as equity markets sink.
Gold prices surged past $4,000 an ounce, up 0.54%, while silver jumped 2.46% as investors fled to safe-haven assets amid a deepening U.S. stock selloff. Defensive food and beverage stocks in the S&P 500 rose modestly, reflecting a shift toward risk-off positioning. Analysts said the sharp move highlights investor anxiety over escalating U.S.-China tensions and the prolonged government shutdown, prompting broader rotation from growth sectors into traditional hedges and recession-resilient equities.