Gold surged past $4,000 an ounce, up 50% this year, driven by investor fears over government debt, a weaker dollar, a buying spree by China’s central bank, and concerns the AI stock boom may collapse.

The precious metal rallied as much as 2.2% to top $3,970 an ounce in the week’s opening session.

A “variety of multiple time frame technical signals and conditions warn of uptrend exhaustion,” writes BofA’s Paul Ciana.