US EditionGold Prices Soar to Record High Amid U.S. Economic Uncertainty
Gold prices near $4,000 an ounce as government shutdown delays data and traders expect Federal Reserve rate cuts amid economic uncertainty.
- On Monday , Gold climbed to $3,920.63 an ounce during the Asian session as the US federal government shutdown dragged on.
- Budget impasse in Washington stalled federal programmes and delayed data, intensifying risk aversion and pushing investors toward precious metals amid the US government shutdown.
- Industry voices noted that Comex gold futures surged 1.2% to $3,957.90, and MCX December futures reached �1,19,560, driven by safe-haven demand amid the U.S. shutdown, said Aksha Kamboj.
- SPDR holdings rose notably over last week, signalling renewed investor interest, while immediate support lies near the $3,900-$3,895 support zone despite the RSI above 70.
- The CME FedWatch Tool shows markets pricing in a 95% chance of a 25-basis-point Fed rate cut in October, while investors will closely track Fed Governor Stephen Miran on Wednesday and Chair Jerome Powell on Thursday .
20 Articles
20 Articles
Gold and Bitcoin go through the roof as U.S. shutdown forces investors to trade in the dark
There is a 67% chance that the U.S. federal government shutdown will last longer than 10 days, according to bettors on Polymarket—and for stock traders, that will feel like an eternity. Most notes from Wall Street analysts this morning are bemoaning the lack of official macroeconomic data coming from the U.S. The U.S. departments of Labor and Commerce will not publish any data until the shutdown ends. That means, through October 16, at least 12 …
Gold Prices Soar to Record High Amid U.S. Economic Uncertainty
Gold Prices Soar to Record High Amid U.S. Economic Uncertainty Gold prices have surged to a record high in domestic futures trade, exceeding Rs 1.20 lakh per 10 grams for the first time. This rise is attributed to strong global trends and growing acceptance of more interest rate cuts by the U.S. Federal Reserve.The ongoing U.S. government shutdown, along with increasing trade and geopolitical tensions, has bolstered demand for gold, a traditiona…
Gold FOMO Has $4,000 Mark Within Reach This Year
(Substack)—Gold prices keep climbing, breaking records almost weekly, and now experts are pointing to a potent mix of investor anxiety and economic shifts that could drive the metal even higher. The spot price recently touched an all-time high of $3,880.80 per ounce, marking a gain of more than 47% so far this year. With uncertainty swirling around a possible government shutdown and the Federal Reserve eyeing more rate cuts, the rush into gold s…
The US shutdown, uncertainty and interest rate cuts are fueling demand and investment flows
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