LONDON (CNN Business) -  Gold has rallied past $2,000 per ounce for the first time ever, with spot prices jumping as high as $2,041 per ounce on Wednesday.
The metal’s spectacular rally is the result of a weakening dollar, which makes it cheaper for foreign investors to buy gold, as well as rock-bottom yields on other safe-haven assets like U.S. Treasuries. Some investors also fear that trillions in unprecedented stimulus from central banks could feed long-dormant inflationary pressures, and are turning to gold for protection.