(Bloomberg) – Gold has reached another record – approaching the brand of $ 4,000 an ounce – while the closure of the American federal government was dragging.
Bullion increased up to 1.2% at $ 3,932.02 per ounce. The disruption of the United States delayed data on the payroll, which was due on Friday, making an even clearer disturbing economic perspective.
Most of Bloomberg
With the lack of official figures, traders depend on private reports for more clarity on the economy, while the American central bank finds it difficult to make monetary policy decisions. Rate traders are still reducing a quarter -point drop for the end of the month, which will benefit gold more because it does not pay interest.
Precious metal jumped almost 50% this year, stimulated by the massive shaking of economic and geopolitical uncertainty that President Donald Trump injected into the market. The rate of reduction in the rates of the federal reserve and the purchases of central banks to diversify far from dollar assets were also major winds.
Private investors accumulating in golden background back funds contributed to the last stage of the rally, the total of assets by expanding the most than three years last month. Strong flows continued in the first week of October.
Fund flows were “simply remarkable,” said Priyanka Sachdeva, analyst at Phillip Nova PTE. It is “a testimony of the depth of the mentality of the mentality” Buy the Dip in Gold “, she said.
The gold increased by 1.1% to reach $ 3,930.75 per ounce at 11:51 a.m. in Singapore after hiding a seventh weekly gain on Friday. The Bloomberg Dollar spot index increased by 0.3%. Money, platinum and palladium have all climbed.
The “backdrop is intact with the Fed on path to further reduce rates, in parallel with the weakening of the labor market,” said Ahmad Asiri, analyst of Peppperstone Group Ltd. However, “it seems that the revolving risk dynamics moves and a tactical withdrawal would be considered a healthy phase in an extensible rally,” he said.
Most of Bloomberg Businessweek
© 2025 Bloomberg LP
