"Gold futures prices topped $4,000 per ounce for the first time on Tuesday as investors continue to seek safe havens for their money, with the US government essentially shut down and widespread uncertainty around the economy. As of 9.10am ET, gold futures traded at $4,003 in New York. The going price for New York spot gold rose to $3,960.60 per troy ounce the standard for measuring precious metals."
"The metal's rally has been driven by a cocktail of factors, including expectations of interest rate cuts, ongoing political and economic uncertainty, solid central bank buying, inflows into gold-based funds and a weak dollar. The US government shutdown entered its seventh day on Tuesday."
Gold futures exceeded $4,000 per ounce, with New York futures at $4,003 and New York spot gold near $3,960.60 per troy ounce. Demand for gold rose as investors sought secure assets during economic and political uncertainty. Gold and other metals, including silver, have gained over the past year amid global tariff disruptions. Safe-haven flows intensified during a US government shutdown, and non-yielding gold climbed 52% year-to-date. The rally reflects expected interest-rate cuts, central bank buying, inflows into gold funds, and a weak dollar. The shutdown delayed key economic releases, pushing investors to rely on secondary data while markets reacted to turmoil in France and Japan.
Read at www.theguardian.com
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