SACRAMENTO -- The price of gold has reached a historic milestone, surging past $5,000 an ounce for the first time ever, as investors increasingly turn to precious metals amid global economic uncertainty. Experts say several factors have driven the sharp rise over the past year, including persistent concerns about inflation, ongoing global conflicts, and the possibility of interest-rate cuts by the Federal Reserve. When economic conditions feel unstable, gold is often viewed as a safe and reliable investment. At the Gold Digger Pawn Shop in Elk Grove, owner Mark Hutchason said business has picked up significantly as customers look to cash in on the high prices. Hutchason said the demand has been so strong that he's had to bring in additional help just to keep up. "Phone calls all day long," Hutchason said. "I need a receptionist just to answer phones, and then you've got lines of people trying to cash in on silver and gold prices." Gold isn't the only precious metal seeing a surge. Silver and platinum prices have also climbed alongside gold, reflecting broader investor interest in hard assets. Still, financial experts urge caution. They recommend limiting precious metals to about 10 percent of an investment portfolio, allowing room for diversification across stocks, bonds, and other assets.
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