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Gold Hits Another Record High as US Government Shutdown Drags On
Gold rose to another record — closing in on the $4,000 an ounce mark — as the US Federal government shutdown dragged on. Bullion advanced to $3,920.63 an ounce, before paring some gains. The disruption in the US has delayed payroll data, which was due on Friday, making a murky economic outlook even more unclear. With the lack of data, traders are depending on private reports for more clarity on the economy, while the central bank is finding it challenging to make monetary policy decisions. Rates traders are still pricing in a quarter-point cut for the end of the month, which will benefit gold further as it ... (full story)
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