Gold prices surged to fresh records in Asian trade on Wednesday after the U.S. government officially entered a shutdown, fueling haven demand and weighing on the dollar.<\/p>\n\n\n\n
Spot gold<\/strong> touched an all-time high of $3,875.53 an ounce<\/strong>, before easing slightly to $3,862.22 by 00:22 ET (04:22 GMT). Gold futures for December<\/strong> also soared to a peak of $3,903.45\/oz<\/strong>.<\/p>\n\n\n\n The surge marks the latest in a string of record-breaking sessions this week, driven by deepening political turmoil in Washington and fading confidence in the dollar.<\/p>\n\n\n\n A shutdown took effect at midnight Tuesday (0400 GMT Wednesday) after Republicans\u2019 last-ditch spending bill failed to clear the Senate amid resistance from Democrats over healthcare and social spending provisions.<\/p>\n\n\n\n The deadlock halted federal funding, setting in motion agency closures and sparking worries that the release of critical economic data will be delayed. Traders fear that a prolonged disruption could cloud monetary policy visibility for the Federal Reserve.<\/p>\n\n\n\n The political impasse drove strong inflows into precious metals beyond gold. Spot silver<\/strong> climbed 0.9% to $47.05\/oz<\/strong>, nearing a 14-year high, while platinum<\/strong> edged down 0.3% to $1,572.18\/oz<\/strong> after touching its strongest levels in over a decade earlier this week.<\/p>\n\n\n\n Industrial metals were more muted. London copper futures<\/strong> eased 0.1% to $10,278.10 a ton<\/strong>, while COMEX copper<\/strong> slipped 0.7% to $4.8450 a pound<\/strong> after a strong rally earlier this week.<\/p>\n\n\n\n The shutdown has cast uncertainty over the release of September\u2019s nonfarm payrolls report<\/strong>, which was due Friday and considered a key guide for Fed policy. A prolonged closure would also delay other economic releases, complicating the Fed\u2019s decision-making.<\/p>\n\n\n\n While the central bank cut rates in September to support a cooling labor market, several officials have since struck a hawkish tone<\/strong>. Dallas Fed President Lorie Logan<\/strong> warned this week that more cuts may be unwarranted unless job conditions weaken further, tempering hopes for aggressive easing.<\/p>\n","protected":false},"excerpt":{"rendered":" Gold prices surged to fresh records in Asian trade on Wednesday after the U.S. government officially entered a shutdown, fueling haven demand and weighing on the dollar. Spot gold touched an all-time high of $3,875.53 an ounce, before easing slightly to $3,862.22 by 00:22 ET (04:22 GMT). Gold futures for December also soared to a …<\/p>\n","protected":false},"author":9,"featured_media":94364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-119436","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/119436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=119436"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/119436\/revisions"}],"predecessor-version":[{"id":119437,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/119436\/revisions\/119437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94364"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=119436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=119436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=119436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}U.S. Government Shutdown Begins<\/h4>\n\n\n\n
Haven Demand Extends to Silver and Platinum<\/h4>\n\n\n\n
Nonfarm Payrolls Data in Doubt<\/h4>\n\n\n\n