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Gold hovers near record high on US government shutdown fears, soft jobs data
Gold prices rose on Tuesday to hover near record highs, buoyed by concerns over a looming U.S. government shutdown, while soft jobs data bolstered expectations of Federal Reserve rate cuts. Spot gold rose 0.3% to $3,843.43 per ounce as of 01:51 p.m. ET (1750 GMT), rebounding from earlier losses in U.S. hours. Prices hit a record high of $3,871.45 during Asian trading. U.S. gold futures for December delivery settled 0.5% higher at $3,873.20. "Gold is showing remarkable resilience again, effortlessly clawing back early losses after uninspiring U.S. JOLTs data that won't stand in the way of another rate cut in a ... (full story)
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